Kungsleden sells two centrally located properties in Gothenburg (SE)

Listed Swedish property company Kungsleden AB (publ) is continuing to focus and optimize its property portfolio consistent with its strategy, and is selling the properties Inom Vallgraven 20:8 and Inom Vallgraven 16:21 for a total purchase price of SEK 157 m (approx. €17.4 million). These sales will generate an estimated profit of just over SEK 40 million (approx. €4.44 million). The purchaser of Vallgraven 20:8 is the Bräutigam family, and property company Fastighets AB Balder is purchasing Inom Vallgraven 16:21.

The property Inom Vallgraven 20:8 is located at Östra Hamngatan 37, just across the street from flagship department store NK and has leasable area of 1,100 m². This property is being sold for SEK 51 million (approx. €5.66 million). The Bräutigam family previously held this property between 1891 and 1921.

The property Inom Vallgraven 16:21 is located at the junction of Hamngatan and Drottninggatan, and has leasable area of 2,980 m². This property is being sold for SEK 106 million (approx. €11.76 million).

“Interest in these properties has been very high, and we’re satisfied to have executed these sales as planned to good, long-term owners. The sale frees up capital that can be re-invested in strategic properties,” commented Kungsleden’s Transaction Manager Ylva Sarby Westman.

Source: Kungsleden

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