On June 23rd Skeljungur published a notice to the effect that the Board of Directors of the Company had made a decision to assess the advantages of the Company’s future ownership of its real properties, and that the Company would be advised on the matter by Íslandsbanki’s corporate advisory team.
Since that time, work has been in progress on valuating the company’s real estate assets in the metropolitan area of the capital, and also in Westland and Reykjanes.
The Board of Directors of the Company has now made a decision to place following assets in a process of divestment with a view to leasing the properties back (sales and lease back), either in full or in part. These are the following selected assets (note the below list is not exhaustive):
- Austurströnd 7 (Suðurströnd), 170 Seltjarnarnes
- Birkimelur 1, 107 Reykjavík
- Baulan, 311 Borgarnesi
- Brúartorg 6, 310 Borgarnes
- Bústaðavegur 20, 108 Reykjavík
- Dalvegur 20, 201 Kópavogur
- Fitjum, 260 Reykjanesbæ
- Grjótháls 8 (Vesturlandsvegur), 110 Reykjavík
- Gylfaflöt 1, 112 Reykjavík
- Hagasmári 9, 201 Kópavogur
- Kleppsvegur, 104 Reykjavík
- Laugavegur 180, 105 Reykjavík
- Litlatún 1, 210 Garðabær
- Miklabraut 101 (norður), 105 Reykjavík
- Miklabraut 100 (suður), 105 Reykjavík
- Óseyrarbraut 2 (Kænan), 220 Hafnarfjörður
- Reykjavíkurvegur 58, 220 Hafnarfjörður
- Skagabraut 43, 300 Akranesi
- Skógarhlíð 16, 105 Reykjavík
- Suðurfell 4, 111 Reykjavík
The total value of the assets referred, amounts to approx. ISK 10 bn. according to a preliminary assessment which is subject to various criteria, e.g. future rental income, but the company’s consultants will continue to work on assessing the value of the assets in question.
The assets referred to will be placed in a formal divestment process and Íslandsbanki’s corporate advisory team will advise Skeljungur on the matter.
Skeljungur will hold on to other real estate and plots of the company for the time being. Further information on progress will be published as the process moves forward.
For further information, please contact Árni Pétur Jónsson, CEO fjarfestar@skeljungur.is.
www.skeljungur.is
https://www.linkedin.com/company/skeljungur-hf/
