STOCKHOLM, Sweden, June 27, 2003 (PRIMEZONE) -- The property company Kungsleden AB (publ) has acquired 17 warehouse properties for a total price of 250 MSEK including transaction costs with an initial yield of 10.5%.
The vendor is Ashtenne Holdings PLC, listed on the London stock exchange. Kungsleden will take possession of the properties on the 1 of September 2003.
Of the purchase price 80% is located in growing major cities. The majority of these properties are concentrated in the south and the center of Sweden.
All the properties are rented by SELGA group on long term leases with the rental income of 27.7 MSEK per annum.
The properties contains warehouses and offices with a total area of 51.373 sqm.
" The properties fits into Kungsledens portfolio of high yielding properties with good liquidity and a stabile tenant on long term basis," said Jens Engwall, CEO of Kungsleden, commenting on the transactions.
For more information, please contact: Jens Engwall, Kungsleden's Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550
Kungsleden's strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and disposals. Kungsleden's property holding comprises 420 properties with a book value of approximately SEK 10.3 bn. The holding is located in a total of 119 municipalities, although concentrated on the Swedish provinces of Gotaland and Svealand. Kungsleden has been quoted on the OM Stockholm Exchange O-list since 14 April 1999.
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