Listed Swedish property company Kungsleden 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 mln (EUR 6 mln). The buyer is also taking over a project for SEK 4 mln.

Listed Swedish property company Kungsleden 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 mln (EUR 6 mln). The buyer is also taking over a project for SEK 4 mln.

The sales price is approximately SEK 5 mln above book value, and about SEK 7 mln below acquisition cost.

The 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 m2.

Completion of the property is scheduled for 1 November 2010.