Kungsleden purchases well-known property in Lund for SEK 173 m
Listed Swedish property company Kungsleden AB (publ) is purchasing part of the property Studentkåren 1, also known as Sparta, in the southern Swedish city of Lund, for a total purchase price of approximately SEK 173 m excluding transaction costs. The initial property yield is around 8 per cent.The vendor, AF Bostäder, will be undertaking a conversion to what is defined in Swedish law as a 3D property (where, as well as vertical division by footprint, a property can also be divided horizontally), with Kungsleden purchasing the commercial portion, which consists of retail, office and