Näckebro purchases property in Värtan, Stockholm, and sells in Säffle

Näckebro has purchased a property in Värtan, Stockholm, for SEK 27 million and become a partner in the company RTB Värtan KB. These investments will give Näckebro the opportunity to develop 40,000 sq m of office space in one of Stockholm's growth areas. The company has also sold a property in Säffle for SEK 20 million, resulting in a capital loss of SEK 30 million. Näckebro has acquired kv Pireus in Värtan, Stockholm, a property currently given over to office and warehouse units totalling some 5,300 sq m. The purchase price was SEK 27 million. The property may be developed in future to provide as much as 20,000 sq m of office space. Näckebro has also become a partner in RTB Värtan KB, which leases a neighbouring property, kv Riga. Näckebro has an option to acquire the whole company, which will allow the construction of approximately 50,000 sq m of new office space on the property. Both kv Pireus and kv Riga are situated close to Näckebro's property at Position Värtan, which totals some 50,000 sq m. Position Värtan is currently fully let. "The acquisition in Värtan will allow us to develop a further 40,000 sq m or so in one of Stockholm's most attractive growth areas," says Lennart Schönning. Näckebro has sold the residential property Gärdet 3 in Säffle to AB Bronzella. The purchase price was SEK 20 million, resulting in a capital loss of SEK 30 million. "The property in Säffle has suffered very poor capital appreciation because of reduced interest contributions and high vacancy rates. The sale permits Näckebro to leave yet another non-priority area in favour of concentration in designated key locations," says Lennart Schönning. For further information, please contact: Lennart Schönning, Chief Executive, tel.: +46-(0)8-412 19 01, mobile 070-645 02 50