NCC sells office and retail project in Hagastaden, Stockholm for €185 million (SE)

NCC has sold the office and retail property Torsplan in Hagastaden, Stockholm for SEK 1,618 million (approx. €185 million). The buyer is KLP Fastigheter AB and the preliminary date of occupancy is scheduled for the end of the fourth quarter, 2013. The sale will have a positive impact on earnings on both the date of occupancy and as tenants move in. The current leasing rate is 84 %.

The transaction will be implemented as a company divestment with an underlying property value of SEK 1,618 million, net of deferred tax. NCC will be responsible for leasing the remaining floor space for a further three years.

“Torsplan is one of the first buildings in Hagastaden, Stockholm’s major new development area, and by focusing on sustainability, our aim is to achieve a BREEAM Excellent rating. I am very happy that several very strong companies have chosen NCC as their supplier of specific office and retail solutions,” says Carola Lavén, Business Area President for NCC Property Development.

The total leasable floor space is about 30,000 square meters, comprising some 22,000 m² for offices, 8,000 m² for retail activities and a garage with almost 280 parking spaces. The total leasing rate is currently 84 %. Some of the companies that have chosen to establish their operations at Torsplan (property designations: Fraktalen 1, 2 and 3) are Axfood, Structor, the Health and Social Care Inspectorate, Max Hamburger Restaurant, Systembolaget and Hemköp.

Hagastaden, located between Norra Stationsgatan and Karolinska Hospital, will be one of Stockholm’s totally new city districts with world-class research, advanced care and a combination of offices, housing, green areas and retail activities. NCC Property Development has advanced plans to develop an additional office property adjacent to Torsplan.

Source: NCC

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