Fabege has divested the Påsen 10 property in Hammarby Sjöstad, Stockholm. The purchaser is Skanska. The property is being sold in the form of a company with an underlying property value of SEK 188 mln. (approx. 20 mln.).
Påsen 10 currently comprises nearly 10,000 m² of floor space, primarily industrial/warehouse and office premises. Skanska intends to build residential premises on the property. The purchaser will take possession on September 30, 2010.
The sale will generate an after-tax gain of SEK 75 mln., which will be recognized in profit during the third quarter of 2010.
"We are pleased to have realized considerable value through the sale of this property. The best way to capitalize on the property's potential is through its conversion to residential premises," says Christian Hermelin, CEO of Fabege, commenting on the transaction.