John Mattson has signed an agreement for the sale of the Klassrummet 1 property in central Stockholm. The price is based on an underlying property value of €10.8m before deduction for latent tax. The buyer is Bonnier Fastigheter AB.
The Klassrummet 1 property is located at Lilla Bantorget in central Stockholm and comprises one older office building dating back to the late 1800s. The total lettable area amounts to 1,131m2. The price is based on an underlying property value of €10.8m before deduction for latent tax, which is €1m lower than its carrying amount as of the second quarter 2023. The estimated negative earnings impact from the transaction for John Mattson amounts to about €1.7 after deduction for latent tax, transaction costs and the reversal of recognised deferred tax. A realised change in value will be recognised for the fourth quarter.
“We are making our second property sale in a short time, thereby contributing to strengthening John Mattson’s financial position by reducing the loan-to-value ratio. Klassrummet 1 is our last property in central Stockholm. The sale means that we have now streamlined our portfolio into four geographical property management areas, thus creating the preconditions for more efficient and value-creating property management,” commented Per Nilsson, CEO of John Mattson.
The agreement is unconditional and John Mattson will transfer ownership of the property on 10 November 2023.
Nordano and Wigge & Partners have acted as transaction advisors for the vendor.
