Listed Swedish property company Kungsleden has bought eight commercial properties located in six locations in central Sweden for SEK 365mln (EUR 39mln), including transaction costs. The seller was Stampen, Sweden's largest newspaper group.
Listed Swedish property company Kungsleden has bought eight commercial properties located in six locations in central Sweden for SEK 365mln (EUR 39mln), including transaction costs. The seller was Stampen, Sweden's largest newspaper group.
The assets have total lettable floor-space of 52,000 m2, mainly consisting of offices (37%) and production facilities (56%). The biggest tenant is V-TAB, the largest printing group in the Nordic region, which provides some 60% of total rental revenues. The average rental term of the portfolio is 6.5 years. Kungsleden will take possession on 1 October.
'These properties suit Kungsleden’s existing property portfolio well in terms of their high and stable returns,' said Kungsleden's Chief Executive Thomas Erséus, 'We assess their risk level as low because they are in attractive locations and are flexible for different usage.'
