Wihlborgs sells Fatburen for SEK 1,950 million (SE)

Wihlborgs and Atrium have sold the jointly owned (50/50) property Fatburen 5 ('Fatburen') in Stockholm to the Danish real-estate company Keops for SEK 1,950 million (approx. €210m).

Wihlborgs share of the sales price, SEK 975 million, gives a profit of about SEK 50 million. In accordance with IFRS the profit is replaced by realised changes in value (the difference between sales price and latest valuation) as of 31 December 2004.

The property is divided in two separate buildings and it is a major part of the property Fatburen 5, Magnus Ladulåsgatan 65-67, with a total area of 47,500 m² which has been sold. This part has undergone a thorough development and refurbishment. A smaller part of about 8,000 m² is left, Magnus Ladulåsgatan 63, also jointly owned by Wihlborgs Fastigheter AB and Atrium Fastigheter AB.

The Swedish Tax Agency, Apoteket and The County Council are the largest tenants. The buyer takes possession of the property on 15 March 2005.

Source: Wihlborgs

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