Näckebro invests SEK 65 M in new project in värtan

NÄCKEBRO INVESTS SEK 65 M IN NEW PROJECT IN VÄRTAN AND LEASES OUT 4,200 SQ M IN ALVIK The listed property company Näckebro has decided to invest SEK 65 M in a remodelling and extension project in Tegeluddsvägen in Värtan, Stockholm. The company has also signed a contract with the German software company SAP for the lease of 4,200 sq m of space on eight floors in Alvik Terrass, Stockholm. The lease contract with SAP runs for three years with an option to renew. Included in the lettable space are two newly built penthouse floors. The companies Hotline Communication AB and Henkel Norden AB have both signed leases for one 500 sq m penthouse floor each. The rents realised for the penthouse floors are well in line with Näckebro expectations at the time the investment decision was taken. Näckebro acquired the property Alvik Terrass from Tetra Laval in February 1997. The property contains some 22,000 sq m of office accommodation and 6,000 sq m of garage/parking space. An extensive remodelling and extension project was initiated in the spring to create nine penthouse offices with views of lake Mälaren, comprising in all about 5,000 sq m. Four offices have already been leased out, and the first tenants are expected to occupy in December 1997. The property at Tegeluddsvägen 62-68 in Värtan, Stockholm, comprises some 10,000 sq m and is currently unlet. The rebuilding project will include an extension designed to ease access and make for greater flexibility of lay-out. All the technical systems for communications, climate control, air conditioning, etc., will be replaced. The project is targeted at companies in the media and services sectors. For further information, please contact: Lennart Scönning, Chief Executive, Näckebro, tel.: +46-(0)8-459 20 01, mobile: 070-645 02 50 Näckebro is an innovative property company characterised by an active property development programme, a modern organisational philosophy and an open information policy. Näckebro stock is all high-grade and presently concentrated to office and residential properties in Stockholm, Malmö, Gothenburg and London. With the acquisition of Fabege, the property portfolio comprises about 1.4 million sq m of space at a book value of approx. SEK 13,000 M. Näckebro is listed on Stockholm Stock Exchange's O list.