Kungsleden divests residential project properties in Gothenburg
Kungsleden divests the residential project properties Rud 4:1 and Rud 760:42 in Ruddalen, Gothenburg. The residential developer Prime Living acquires the properties for SEK 66 million.
Kungsleden AB (publ) has signed an agreement with the residential developer Prime Living to divest the properties Rud 4:1 and Rud 760:42 in the residential area Ruddalen, Gothenburg. Kungsleden has started a zoning plan process to transform the properties into residential properties as part of the City of Gothenburg’s so called Jubilee Plan. The properties have a total leasable area of 2,055 sqm with a leasehold concession. The proposed new zoning plan contains approximately 18,000 sqm residential area, 2,000 sqm retail area and 3,000 sqm garage space.
Prime Living acquires the properties for SEK 66 million, where SEK 32 million is paid upon closing and the remaining SEK 34 million once the zoning plan obtains legal force. Kungsleden’s book value for the properties amounts to SEK 31 million. Closing will take place in May and the zoning plan is expected to obtain legal force during 2017.
For more information, please contact:
Ylva Sarby Westman, Deputy CEO and CIO Kungsleden | +46 8 503 052 27 | ylva.sarby.westman@kungsleden.se
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
The information was provided for public release on 10 May 2016 at 07:00 a.m.
Kungsleden’s business concept is to own, manage and improve commercial properties in growth regions in Sweden and to deliver attractive total returns. Kungsleden’s strategies to create value are based on meeting the premises requirements of customers by managing, improving and developing properties and planning consents and by optimising the company’s property portfolio. Kungsleden has been quoted on NASDAQ Stockholm since 1999.
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