Kungsleden AB: Kungsleden sells property in Gärdet, Stockholm, for SEK 162 m

Business Wire

STOCKHOLM--(BUSINESS WIRE)--

Regulatory News:

Kungsleden (publ) (KLED.ST) (KGLED01.OL) is continuing to streamline its property portfolio and is selling the property designated Tegeludden 16 in Stockholm to Aros Bostadsutveckling AB, which is acquiring the property under the entity Aros Bostad III AB. The purchase price is SEK 162 m and the sale generates a profit of some SEK 18 m.

The office property Tegeludden 16 is located in the Gärdet area of Stockholm and comprises some 7,600 sq.m. of operational premises, of which 4,800 is office space. The property is let to a single tenant. A new zoning plan has been approved for the property that permits conversion into housing. The completion date is 1 September and the sale will be reported in the third quarter 2014. “We’re pleased to be selling yet another non-strategic property at a price above book value. The property, which is covered by a new approved zoning plan for housing, is not within our prioritized property types. The sale means that we will be able to invest in selected geographical growth markets in future, focusing primarily on offices but also the industrial/warehouse and retail segments,” commented Ylva Sarby Westman, Transaction Manager at Kungsleden.

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden

Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 26 June 2014 at 1:00 p.m.

Kungsleden’s business concept is to own, manage and improve commercial properties in growth regions in Sweden and to deliver attractive total returns. Kungsleden’s strategies to create value are based on meeting the premises requirements of customers by managing, improving and developing properties and planning consents and by optimising the company’s property portfolio. Kungsleden has been quoted on NASDAQ OMX Stockholm since 1999.

This information was brought to you by Cision http://news.cision.com

Contact:
Kungsleden
Ylva Sarby Westman
Transaction Manager
+46 (0)8 503 052 27
ylva.sarby.westman@kungsleden.se
or
Biljana Pehrsson
Chief Executive
+46 (0)8 503 052 04
biljana.pehrsson@kungsleden.se
www.kungsleden.se

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