STOCKHOLM, Sweden, May 05, 2004 (PRIMEZONE) -- Hufvudstaden has sold the company that owns the office and residential property Schonborg 6. The consideration for the shares, including the accumulated profit for January 1 to May 31, 2004, amounts to approximately SEK 168 million. The disposal will have an impact of approximately SEK 100 million on the consolidated post-tax profit for the second quarter.
The buyer is the family-owned construction company Einar Mattsson, who will take possession of the shares and the property on June 1, 2004.
The Schonborg 6 property, located on Gotgatan in Stockholm, was built by Hufvudstaden in 1960 and has been owned and managed by Hufvudstaden since then. The rentable floor space amounts to approximately 11,000 square meters and is distributed as follows.
Type of premises Floor space, sq m % Office 3,509 32 Retail 1,028 9 Residential 4,328 39 Other 2,223 20 Total 11,088 100
The annual rental value, based on current contracts, amounts to approximately SEK 14.1 million, including the property tax supplement.
The sale of the property is in line with Hufvudstaden's strategy to concentrate its operations to commercial properties in central Stockholm and central Gothenburg.
Stockholm, May 5, 2004
HUFVUDSTADEN AB (publ)
Ivo Stopner President
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