STOCKHOLM, Sweden, June 29, 2004 (PRIMEZONE) -- Hufvudstaden has sold the company that owns the office and residential property Roddaren 58. The consideration for the shares, including the accumulated profit for January 1 to August 4, 2004, amounts to approximately SEK 295 million. The disposal will have an impact of approximately SEK 210 million on the consolidated post-tax profit for the second quarter.
The buyer is NIAM Nordic Investment Fund III, who will take possession of the shares and the property on August 5, 2004.
The Roddaren 58 property, located on the corner of Fleminggatan/S:t Eriksgatan in Stockholm, was built by Hufvudstaden in 1974 and has been owned and managed by Hufvudstaden since then. The rentable floor space amounts to approximately 20,000 square meters and is distributed as follows.
Type of premises Floor space, sq m % Office 4,459 22 Retail 3,310 16 Residential 6,519 32 Garage 3,615 18 Other 2,342 12 Total 20,245 100
The annual rental value, based on current contracts, amounts to approximately SEK 28 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.
Hufvudstaden's advisor at the transaction was Leimdorfer Fastighetsmarknad AB.
Stockholm, June 29, 2004
HUFVUDSTADEN AB (publ)
Ivo Stopner President
For further information, please contact Ivo Stopner, CEO, or Magnus Jacobson, CFO, telephone +46 8-762 90 00.
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