Norgani Hotels ASA has sold the mixed-use property Sprutan 6 in Norrköping, Sweden for approx. €5 million (SEK 46 million) to Portieren Norrköping AB. The sale is in line with Norganis strategy to actively develop its portfolio of Scandinavian hotels and divest non core business properties.
The property Sprutan 6, Norrköping has a lettable area of about 7000 m² of which 3785 m² is hotel. It comprises the Best Western Princess Hotel with 119 rooms.
The sales price is in accordance with book value. The acquisition value is SEK 43.3 million and the cash flow from the sale amounts to SEK 2.7 million.
Norgani will after this own 40 hotels in Sweden.