TKD Nordeuropa, TK Development's wholly-owned subsidiary group, has sold the office property at Sankt Annæ Plads no. 13 in Copenhagen. This approx. 8,200 m² five-storey property is situated on the street corner between Sankt Annæ Plads and Amaliegade in Copenhagen (Denmark).
Over the years, the property has served as corporate headquarters for a number of major companies but is currently unlet. Jeudan A/S, a Danish listed property company, is the buyer. The selling price has been agreed at DKK 139.5 million (approx. 20 million) and the new owner will take possession as of 20 July 2005.
The agreement regarding the sale of the office property underpins Management's expectations as to a TKD Nordeuropa post-tax profit hovering around DKK 70 million (approx. 20 million) for the 2005/06 financial year, and DKK 50 million (after tax - approx. 7 million) for TK Development for the same period.
Source: TK Development
