Kungsleden adds to Gothenburg portfolio with €72m deal

Swedish listed property firm Kungsleden has announced the purchase of five strategic properties in Gothenburg for SEK 676 mln (€72 mln).

Kungsleden bought a 23,000 m2 multi-let office property in Kista Science City from Genesta and four office and warehouse properties in Högsbo from Platzer.

The four properties Högsbo 11:5, Högsbo 13:6, Högsbo 14:3 and Högsbo 27:8 add 17,000 m2 to Kungsleden’s existing portfolio in Högsbo, which now amounts to 107,000 m2.

Kungsleden already has six office properties in the Kista office market and is the third largest office property owner in the district.

'Our efforts to grow our strategic portfolio continue to move forward. We know exactly which properties we are looking for and when we find them we act swiftly,' said Ylva Sarby Westman, head of transactions at Kungsleden.

Separately, Kungsleden sold 29 non-strategic properties to peers Sagax and Söderport Fastigheter for SEK 536 mln. The divestment means that Kungsleden is withdrawing from 18 municipalities, among them Eksjö, Gislaved, Hallstahammar, Karlsborg, Nässjö, Olofström, Sölvesborg, Tranemo, Tranås and Ulricehamn. The sales price was in line with the book value.

'Kungsleden’s new strategy is about focusing. Along with large acquisitions in the major city regions, we continue to trim our property portfolio by selling non-strategic properties,' commented Westman.