NCC sells Åhlénshuset in Malmö for SEK 130 million

NCC Property Development has sold part of the property Malmö Gyllenstjärna 27 to Redevco for SEK 130 million with a capital gain of approximately SEK 20 million. The deal is being booked to the fourth quarter of 2004.

The property is located in central Malmö on Södergatan/Hjulhamnsgatan/Per Weijersgatan. The part that has been sold consists of a building – better known as Åhlénshuset – on which NCC signed a long-term tenancy agreement with Åhléns earlier in the autumn. Before Åhléns take possession of the building on 1 November 2005, NCC, as a total contractor, will be adapting the premises and changing the Södergatan frontage. Redevco is a family-owned Dutch company which has its roots in C&A’s shop properties. This deal establishes the firm in the Swedish market. ‘The deal is yet another example of our ambition to be leaders in property development. We rent, modify projects and place them with the right property investor,’ says Peter Wågström, head of property development at NCC Property Development in Sweden. The purchaser will take over the work in progress, worth SEK 40 million, and take possession of the property when title has been registered the first quarter 2005. For further information: Peter Wågström, head of property development at NCC Property Development in Sweden. Tel +46 8 585 530 40 or +46 70 527 31 31 Ulf Thorné, Press Relations Manager, NCC Group, +46 8 585 523 46, +46 70 214 27 77