Kungsleden purchases property for SEK 148 m

Listed Swedish property company Kungsleden AB (publ) is purchasing a property for a total purchase price of approximately SEK 148 m including transaction costs. The property yield is about 7.4%.

This property is in an enterprise estate in Kista, north of Stockholm, and has leasable area of about 7,300 sq.m. Total rental value is approximately SEK 15 m.

The majority of this property, which consists of offices, will be let to Office Management on a ten-year rent agreement. Office Management is a full-range office equipment vendor. The remainder is let to operations consultant Plantvision AB and telecom company Tele 2.

Completion is scheduled for 1 April 2011.

“This property offers good and stable returns for the long term and is a good complement to Kungsleden’s property portfolio. In recent years, Kista has advanced its positioning as an office market,” commented Kungsleden’s Chief Executive Thomas Erséus.

Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 23 March 2011 at 9:00 a.m.

For more information, please contact:

Thomas Erséus, CEO Kungsleden | phone 46 (0)8 503 052 04 | mobile 46 (0)70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 (0)8 503 052 06 | mobile 46 (0)70 690 65 65

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden 

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 December 2010, the property portfolio comprised 592 properties with a book value of SEK 21.5 bn. The holding was located in a total of 133 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.

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