Kungsleden has sold two assets as it continues to streamline its portfolio in Sweden.

Kungsleden has sold two assets as it continues to streamline its portfolio in Sweden.

The Swedish listed property company sold Storseglet 3 in Stockholm and Visborg 1:15 in Visby on the island of Gotland for a total of SEK 506 mln (€56.5 mln) after deducting for deferred tax and transaction expenses. Both assets were sold for more than their book values.

The buyer of Storseglet 3 is NCC Boende, while the buyer of Visborg 1:15 is Vacse.

Storseglet 3, acquired in autumn 2013 from GE Real Estate, is located in Gröndal by Lake Mälaren in Stockholm, and is a 6,000 m2 unoccupied office building. A new zoning plan has been drawn up to concert it into 11,000 m2 of residential space.

The property Visborg 1:15 was purchased from Hemsö Fastighets in February 2013. The property is in the outskirts of Visby, is fully let to the Gotland regional authority and houses 17,900 m2 of operational premises.

'We are continuing work on optimising our property portfolio onto selected geographical growth locations and the office, industrial/warehouse and retail segments. The property Visborg 1:15 lies outside our prioritised geographical regions, and Storseglet 3 is a retail development project. Accordingly, these disposals are consistent with our new strategy, and we're very satisfied with the sales,' commented Kungsleden's CEO Biljana Pehrsson.