Fabege sells in Nacka and Västberga (SE)

Fabege has sold its Sicklaön 145:20 property in Nacka to Järla Marknad AB for a consideration SEK 50 mln. (€4.9 mln.)and its Elektra 20 leasehold to Fastighets AB TESST for SEK 7 million (€0.68 mln.).

Sicklaön 145:20 comprises a lettable floor area of 3,300 m². The Electra 20 leasehold property is undeveloped and has a floor area of 3,870 m². The sale will result in a profit after tax of SEK 5 million(€0,5 million) which will be recognised in the fourth quarter of 2009.

"The sale fits in with our ambition to concentrate our property portfolio to a few select sub-markets," Christian Hermelin, Fabege's CEO, says. Fabege AB (publ) is one of Sweden's leading property companies focusing on commercial premises. The book value of the company's property portfolio is approximately SEK 29.4 billion(€2.8 billion).

Source:Fabege AB (publ)

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