Kungsleden makes SEK 82.5 m acquisition in Malmö

Swedish listed property company Kungsleden AB (publ) is acquiring a property in Malmö, southern Sweden, for approximately SEK 82.5 m at an estimated property yield of some 6.7%. The property’s total lettable floor-space is about 8,800 sq.m. Approximately 62% of the property consists of hotel accommodation, 16% is offices, 22% other accommodation while about 7% of the space is vacant. The main tenant is Fosieby Hotell AB. The average term of rental contracts is around three years. The property has a rental value of slightly over SEK 8 m.

The property is to change hands on 1 March.