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Sweden : Fabege sells property on Kungsholmen.

Fabege has divested the Klamparen 10 property in Stockholm. The buyer is KLP Eiendom and the sale will take the form of a company divestment at an underlying property value of SEK 962m. The property comprises about 21,000 sqm of lettable area, primarily office space. The largest tenants are the Swedish National Agency for Education and the Swedish Civil Contingencies Agency.

The property is fully let except for 850 sqm of floor space that will be converted into store premises under the management of the buyer.

The buyer will take possession on 14 December 2012. The sale will generate a gain of SEK 12m before tax and SEK 33m after tax, which will be recognised during the fourth quarter of 2012.

The property is fully developed and I am pleased that it is being sold to a professional and knowledgeable property owner, says Klaus Hansen VikstrE[micro]m, Director of Business Development at Fabege.

Fabege AB (publ) is one of Sweden s leading property companies focusing mainly on letting and managing office premises and property development. The carrying amount of the company s property portfolio is approximately SEK 31.6bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.2m sqm.

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Title Annotation:KLP Eiendom
Publication:Mena Report
Article Type:Brief article
Geographic Code:4EXNO
Date:Nov 19, 2012
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