Property Transactions During the Fourth Quarter 2016

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WALLENSTAM

30 Dec, 2016, 07:24 GMT

GÖTEBORG, Sweden, Dec 30, 2016 /PRNewswire/ --

During the fourth quarter of 2016, Wallenstam sold and vacated a total of four properties with a property value of SEK 445.35 million and acquired land for a purchase price of SEK 26.5 million and also took possession of the property Göteborg Haga 31:5.

"We have a plan to gradually rejuvenate our property holdings, particularly through new construction of rental properties. Several of our urban development projects in both Stockholm and Gothenburg are now starting to gain momentum, which is nice. Looking ahead, the land we acquired during the quarter can also create opportunities for the construction of new apartments," says Hans Wallenstam, CEO of Wallenstam.

The acquired property Göteborg Storegården 1:70 in Björlanda relates to a land acquisition. The purchase price amounted to SEK 26.5 million and the property was taken into possession on November 22. Göteborg Haga 31:5, known as Axesshuset, where an agreement was signed and announced in March 2016, was taken into possession on October 3, 2016.

The properties, which were sold and vacated during the fourth quarter included:

  • Göteborg Brämaregården 7:12 with the address Jägaregatan 2a-2c, Neptunusgatan 13. The property was vacated on December 22. The area amounted to 1,061 square meters. 
  • Göteborg Kålltorp 56:8 with the address Björcksgatan 74, Forsstenagatan 2a-2d. The property was vacated on November 1. The area amounted to 1,030 square meters. 
  • Huddinge Udden 8 with the address Fullerstatorget 2-10, 17-19, Rådstuguvägen 17. The property was vacated on November 1. The area amounted to 5,156 square meters. 
  • Pål Ibb 21 in Helsingborg with the address Drottninggatan 72 A-B, Hälsovägen 1 and Pålsgatan 1. The property was vacated on December 1. The area amounted to 6,223 square meters (previously announced).

Three of these property transactions were carried out in the form of company transactions. The transactions were completed at a combined property value of just over 20 percent above the latest valuation.

CONTACT:

For further information:

Susann Linde,
CFO and Head of Investor Relations Wallenstam AB (publ)
Tel: 46 31 20 00 00 or 46 705 17 11 34

www.wallenstam.se

This information was brought to you by Cision http://news.cision.com
http://news.cision.com/wallenstam/r/property-transactions-during-the-fourth-quarter-2016,c2158260

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