NCC to sell property in Tornby, Linköping, for SEK 200 million
NCC Property Development is to sell Phase 1 of Tornby Handelsgårdar outside Linköping, Sweden, for approximately SEK 200 million. The purchaser is Cordea Savills through its fund Pro2-Immo-Holding Sweden AB. The sale will have a positive impact on earnings for the fourth quarter of 2012.
The transaction is effectuated as a company sale. Based on the current leasing ratio of 80 percent, the project is estimated at a value of approximately SEK 200 M.
NCC is responsible for leasing the remaining vacant space up to completion of the project and for a further three years thereafter. Leasing of the remaining space can generate an additional supplementary purchase consideration of approximately SEK 10 M.
The project will be completed during the fourth quarter of 2012 and occupancy is scheduled for October 1, 2012. The total area is 11,200 square meters and tenants that have signed leases include XXL Sport, Vildmark and Elgiganten. About 2,300 square meters is currently vacant and available for lease.
“At Tornby Handelsgårdar, we have created an attractive trading area by completely re-designing the local area,” says Joachim Hallengren, President of NCC Property Development. “It is an excellent example of how NCC as a real estate developer is improving the townscape by placing the emphasis on people.”
Tornby Handelsgårdar is being constructed with high ambitions of minimizing its environmental impact and will be classified as “Very Good” under the BREEAM international environmental assessment method.
For further information, please contact:
Joachim Hallengren, President, NCC Property Development, telephone +46 70 643 95 68
Magnus Jonsson, External Communication and Media Relations Manager, NCC AB, telephone +46 8 585 522 46
NCC’s media line: +46 8 585 519 00, e-mail: press@ncc.se
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on May 30, 2012 , at 07.30 CET.
All of NCC:s press releases are available on www.ncc.se.
NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2011 sales of fully SEK 53 billion, with 17,500 employees. NCC Property Development develops and sells commercial properties in defined growth markets in the Nordic region, the Baltic countries and St. Petersburg.