Sjælsø Gruppen sells 3 housing projects for DKK 1.1 billion (DK)

Sjælsø Gruppen has entered an agreement for the sale of approx. 480 apartments with a total floor area of approx. 45,000 m2 at Sluseholmen, Valby Have and TV-Byen. The purchase is a project company under Finansgruppen.

The sale comprises the following projects:

  • Sluseholmen, Block D, "Bøgholm. 175 owner occupier apartments with a total area of approx. 17,000 m2 + underground parking for approx. 160 cars.
  • Valby Have, Gammel Køge Landevej. Approx. 200 rental properties totalling approx. 18,500 m2.
  • TV-Byen, Gyngemosen, "Åkande-husene". Approx. 105 rental properties totalling approx. 9,200 m2.

Construction of the 3 projects will begin in the autumn of 2005 with delivery planned successively during 2007.

The fact that the 3 projects are being sold together now rather than gradually over the coming year gives grounds for upgrading the expectations for 2005 from DKK 325 million before tax to DKK 375 million before tax. The sale will also contribute to Sjælsø Gruppen's earnings in 2006 and 2007.

Source: Sjælsø

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