Fabege sells leasehold in Hammarby Sjöstad (SE)

Fabege has sold the leasehold on the Påsen 8 property in Hammarby Sjöstad, Stockholm. The purchasers are Skanska and Ikano Bostad. The sale will occur in the form of a company with an underlying property value of SEK 42.5 million (approx. €4.7 million).

Påsen 8 currently comprises lettable area of approximately 3,100 m², mainly consisting of warehouse and office space. The purchasers, who intend to build housing on the property, will gain access on December 12, 2011. The sale will generate an after-tax gain of SEK 23 million, which will be recognized in profit during Q4 2011.

"The intention is to convert the property into housing and Fabege, through its initiating planning work, has created the foundation for a favorable transaction. It was quite natural that Skanska and Ikano Bostad, who already own the adjoining property block, would be the purchaser," comments Klaus Hansen Vikström, Director of Business Development at Fabege.

Source: Fabege AB (publ)

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