NCC Property Development has sold Phase 1 of the âKoggenâ office property at Västra Hamnen in Malmö to the pension insurance company Alecta. The purchase consideration is SEK 125 million and NCC will report a capital gain of SEK 35 million during the second quarter of 2005.
Phase 1 of the âKoggenâ office property is under construction and is scheduled for occupancy at the end of September 2005. The building is fully leased to Atos Origin AB, which will relocate its Ãresund office to the new premises in Malmö.
âThe transaction demonstrates the strength of the Ãresund region in general and, particularly, the strong trend within Västra Hamnen in Malmö. We look forward to the forthcoming phases of the Koggen project,â says Peter
Wågström, Head of NCC Property Development in Sweden.
The contract between NCC and Alecta was signed on April 27, 2005. The transaction will be reported during the second quarter and the sales consideration will be received at takeover during the fourth quarter. The transaction will represent a yield of 6.7 percent.
Source: NCC
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