NCC to sell logistics projects in Sigtuna for SEK 200 million

NCC Property Development is to sell two logistics plants in Roserberg, outside Sigtuna, to Schroder EuroLogistic Fund No 1, for SEK 200 million. The sale will be implemented in the form of a company. Transfer of the properties will occur in March and December 2008, respectively, when the buildings have been completed. The sale will have a positive impact on NCC’s earnings, which will be reported when the buyer takes possession.

The two logistic plants, comprising approximately 18,000 square meters of floor space, are located in Stockholm Nord Logistikcenter. The area is strategically located on the E4 Expressway between Stockholm and Arlanda in Sigtuna municipality.

The first building, consisting of approximately 9,000 square meters of floor space, has been fully leased to InWarehouse AB, Scan Global Logistics AB and SC Auto Sweden AB. Completion and occupancy will take place in March 2008.

Construction of the second building will commence in the spring. NCC Property Development is also responsible for the implementation and leasing of this building. The buildings will be constructed in accordance with NCC’s technical platform for flexible logistic plants.

“This is our first acquisition in Sweden. Our key considerations to invest in the Stockholm North Logistic Centre are the strength of the location, the technical quality of the development and the quality of the tenants. Also we are very happy to work with a strong company like NCC”, says Ronald ten Bokum, Head of Acquisition & Sales – Continental Europe of Schroder Property Investment Management.

The Schroder EuroLogistic Fund No.1 is investing in top quality modern logistic centres throughout Europe.

For further information, please contact:
Magnus Widén, Regional Manager Stockholm, NCC Property Development, +46 8 58 55 19
Ronald ten Bokum, Head of Acquisition & Sales – Continental Europe, Schroder Property Investment Management, +31 20 301 65 60
Lars Blanke, Aqcuisition Manager Nordic Region, Schroder Property Investment Management, +46 709 59 46 78
Ulf Thorné, Press Relations Manager, NCC Group, +46 (0)8 585 523 46, +46 (0)70 214 77 27

NCC Property Development develops and sells commercial properties in defined growth markets in the Nordic and Baltic regions. Our customers want inspirational and sustainable environments in properties that offer stable and secure return over time. We have a large number of ongoing projects within offices, retail and logistics at an investment value of approximately SEK 5 billion.