Mandamus concentrate its property stock with profit
Mandamus continues to concentrate its property stock, focusing on growth areas During November and December, Mandamus disposed of 15 properties with a 2 2 total rentable area of 25,073 m , including 8,060 m of residential premises. From these disposals, the aggregate sale proceeds amounted to some SEK 75m and total profit to just over SEK 14m. With these sales, Mandamus has left the municipalities of Fagersta, Gislaved and Skara. The company now owns developed properties in 40 municipalities, having withdrawn from 11 since year-end 1999. The number of properties is now 312, representing a net decrease of 80 during the year 2000. The sales implemented during November and December comprise three properties in Kungsbacka (Li 19:1, Kilen 12 and Tranan 14), three in Söderköping (Bryggaren 1, Köpmannen 3 and Ramunder 10) and one in each of the following localities: Borås (Slätthult 1:21), Skara (Stora Ekeberg 3:3), Karlstad (Koltrasten 23), Gislaved (Anderstorp 9:233), Värnamo (Bredaryd 3:3), Enköping (Romberga 24:4), Fagersta (Ratten 10), Vänersborg (Tor 7) and Stockholm (Fiskhallen 1). Altogether, 84 properties were sold during the year, yielding a disposal profit of some SEK 76m. This corresponds to an average sale price just under 18% in excess of book value. Queries Please address any queries to Mandamus' Managing Director Anders Johansson on phone +46-8-566 130 00 or e-mail anders.johansson@mandamus.se, or to Deputy Managing Director Bengt Evaldsson, phone +46-8-566 130 00 or e-mail bengt.evaldsson@mandamus.se. Mandamus is a property company that aims to own, develop and manage residential properties with a good yield and low risk. The target property stock is located in growth areas in Southern and Central Sweden, with residential properties making up at least 80%. Mandamus owns properties with a book value of around SEK 5,500, yielding an annual rental income of some SEK 830m. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/28/20001228BIT00060/bit0001.doc http://www.bit.se/bitonline/2000/12/28/20001228BIT00060/bit0002.pdf