NCC sells retail property in Kungsbacka for SEK 220m (SE)

NCC Property Development has reached an agreement concerning the sale of the Kungsbacka 4:62 property to Vital Eiendomsfond Sverige AB. The transaction will be implemented in the form of a company sale and the purchaser will pay the purchase consideration and take over the company on November 1, 2008. The transaction will have a favorable impact on NCC's earnings, which will be reported during the fourth quarter of 2008.

In Kungsbacka, south of Gothenburg, NCC Property Development has developed the first phase, amounting to approximately 10,000 m² of space, of a new retail center that will comprise a total of about 16,000 m². The area is located just south of Kungsbacka Centrum. COOP Sverige Fastigheter AB has already signed a lease for the entire first phase and will open a COOP Forum hypermarket and a COOP Bygg building supplies center there on October 1, 2008.

The next phase in the area will comprise approximately 6,000 m² of space for consumer discretionaries, with a focus on home, interior-design and leisure products.

Source: NCC

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