Hufvudstaden acquires a property in central Stockholm


Hufvudstaden acquires a property in central Stockholm

 

Hufvudstaden has acquired the property Kåkenhusen 38, Norrlandsgatan 31
in Stockholm. The seller is Fabege and the transaction took place
through a company transfer. The underlying property value is SEK 477.5
million and the assessed net operating income is SEK 23.5 million. The
completion date is December 14, 2011.

The lettable floor space is approximately 6,700 square metres; 5,600
square metres of office space and 1,100 square metres of restaurant
space. The property is fully let and the tenants are Finansinspektionen
(The Swedish Financial Supervisory Authority) and the restaurant Pontus.

The acquisition of Kåkenhusen 38 is in line with Hufvudstaden's strategy
of concentrating its holdings in central Stockholm and central
Gothenburg and the property is a natural complement to Hufvudstaden's
holdings on Kungsgatan.

Ivo Stopner, Hufvudstaden president, stated: "Kåkenhusen 38 fits very
well into Hufvudstaden's property holdings, particularly in the light of
the fact that we already own the surrounding properties on the block.
The acquisition will result in positive synergies in terms of both
revenue and costs and we have identified the potential the block
presents for future development."

 

Stockholm, November 25, 2011

HUFVUDSTADEN AB (publ)

 

Ivo Stopner
President

 

Questions can be answered by:
Ivo Stopner, President, or Magnus Jacobson, Head of Finance, telephone
+46 (0)8-762 90 00.

 

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