NCC has reached an agreement with Vasakronan on the sale of Västra Hamnen's Koggen 2 property in Malmö for SEK 246 million (approx. 26.7 million).
The building comprises a total leasable area of 8,100 m² distributed among six floors. The sale will have a positive effect on profits in the fourth quarter of 2012.
The building is under construction and the premises will be ready for occupancy in autumn 2012. The premises primarily comprise office spaces but will also feature some service areas on the ground floor.
Vasakronan will take over the property on its completion. The building is being constructed with high ambitions of minimizing environmental impact; it will be certified as a green building and classified as 'Very Good' on the scale of the BREEAM classification system.
"This transaction is between two strong players who complement each other well," says Mikael Graffman, Head of Swedish operations at NCC Property Development.
"NCC is proficient with property development and is able to offer newly built, flexible and environmentally classified premises in the best locations in Malmö. Vasakronan is a well-respected landlord with a solid reputation. Furthermore, both parties are committed to climate and environmental issues."
"This acquisition is in line with Vasakronan strategy. Cog 2 is a modern and flexible building with good environmental classification. The property is also located in one of Malmö's most expansive and in-demand positions," says Anders Kjellin, Regional Manager, Vasakronan.
NCC will be responsible for development and leasing work throughout the entire project period, but the work will be carried out in close cooperation with Vasakronan.
The transaction will be conducted as a joint venture with a base value of SEK 246 million and with options for supplementary purchase considerations.