Kungsleden sells 71 retail properties (SE)

Swedish property company Kungsleden AB (publ) sells 71 retail properties for a total of SEK 1721 million (approx. €200m). The properties, located from Ystad in the south to Haparanda in the north, has a lettable area of approximately 185 000 m² of which about 157 000 m² are retail areas, with a rental value of SEK 162 million. The purchaser is Boultbee Holding.

The properties which mainly were acquired during 2005 have tenants like ICA, Axfood and ONOFF.

The sales price exceeds the book value with MSEK 7, the external value with MSEK 240, and the purchase value with MSEK 205. The yield based on the sales price is calculated at approximately 6,5 percent.

Possession preliminary changes hands on 31 March 2006.

Source: Kungsleden

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