Kungsleden divests property

Kungsleden divests property

Press Release 16 September 2010

Listed Swedish property company Kungsleden AB (publ) is selling a
commercial property to a joint venture held by the Municipality of
Sigtuna and municipal housing corporation Sigtunahem. The purchase price
amounts to SEK 52 m, with the acquirer taking over a project for SEK 4
m. The sales price is approximately SEK 5 m above book value, and about
SEK 7 m below acquisition cost. This latter amount will be charged to
Kungsleden's profit for calculating dividends for 2010. 

This property, Valsta Centrum, is about 40 km north of Stockholm. It
consists of a single-story retail centre building, plus a car park,
cellar storage and a former bowling alley. Gross leasable area is around
6,700 sq.m.

Completion on this property is scheduled for 1 November 2010.

 

“I view this as a good deal both for ourselves and the Municipality of
Sigtuna, which has good prospects of developing the property,” commented
Kungsleden's chief executive, Thomas Erséus.

 

Kungsleden AB (publ) discloses the information in this press release
according to the Swedish Securities Markets Act and/or the Swedish
Financial Trading Act. The information was provided for public release
on 16 September 2010 at 10:00 a.m.

For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 8 503 052 04 | mobile 46 70 378
20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 8 503 052 06 | mobile 46
70 690 65 65