Hufvudstaden sells World Trade Center Stockholm (SE)

Hufvudstaden has reached agreement on the sale of shares in Vasaterminalen AB, which owns and runs World Trade Center (WTC) Stockholm and WTC Parkering AB to Alecta. The purchase sum for the shares is approximately SEK 3.0 billion (€301 million), which is based on a property value of approximately SEK 2.6 billion (€261 million) . The sale will have an impact on the profit after tax of SEK 1.1 billion (€110 million). The completion date is February 1, 2007.

WTC Stockholm is an international meeting point and is included in the World Trade Center Association (WTCA), the purpose of which is to promote and support international trade and business relations. Its central location, at the heart of the Swedish communications system, makes it a natural meeting point for international companies.

"We are proud of the development of WTC over the almost 20 years in which Hufvudstaden has been involved in the development and management of the building," says Ivo Stopner, President of Hufvudstaden. "It is heartening that a new long-term owner is now taking over, which bodes well for continued good service for our tenants."

WTC is on leasehold and has rentable floor space of almost 47,000 m², of which approximately 38,500 m² are office space and approximately 8,500 m² are restaurant, hotel and conference premises. In addition, there are approximately 11,000 square metres of parking space. Hufvudstaden's adviser at the transaction was Leimdörfer Fastighetsmarknad AB.

Source: Hufvudstaden AB

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