Näckebro sells properties in the Netherlands for SEK 248 M

Näckebro sells properties in the Netherlands for SEK 248 M Näckebro has signed an agreement for the sale of six properties in the Netherlands for SEK 248 M. The book value is SEK 235 M. The buyer is the Dutch company European City Estates NV. The property holdings comprise approximately 39,000 sq. m. and consist of four office properties in Amsterdam, one office property in De Meern and an industrial property in Enschede. "Letting has been highly successful in recent years and the vacancy rate has been reduced from 30% to 3%. This opportunity to sell is therefore favourable," comments Näckebro's Chief Executive, Lennart Schönning. Following this sale Näckebro owns, through Fabege, one property in the Netherlands, the World Fashion Centre in Amsterdam. Näckebro's press release from 27 March 1997 described three sales of properties abroad under consideration. Two of these have now been completed, the Midlands portfolio in the UK that was sold for SEK 143 M in May 1997, and the Dutch properties described here. The third, Liertoppen in Oslo, has been taken off the market since none of the offers received met Näckebro's expectations. The centre is developing very well with high occupancy and rising turnover. The question of a sale will be taken up at a later date. Please direct any questions to: Lennart Schönning, Chief Executive, tel +46 8 459 20 01 or tel +46 70 645 02 50. Näckebro is an innovative property company characterised by a modern organisational philosophy, active property development and an open information policy. The property portfolio is of high quality and in the process of being concentrated to office and residential properties in Stockholm, Malmö, Gothenburg and London. Following the acquisition of Fabege, the property portfolio totals approximately 1.4 million sq. m. with a book value of approximately SEK 13,000 M. Näckebro is listed on the O-List of the Stockholm Stock Exchange.