Hufvudstaden AB and Sigillet Fastighets AB have, through a company transfer, exchanged properties with each other.
Hufvudstaden will acquire the property Inom Vallgraven 12:2, located at Södra Hamngatan 47, at an underlying property value of SEK 65 million. The property comprises an undeveloped plot with a construction right for approximately 2,000 square metres of commercial floor space for office and retail purposes.
Sigillet will acquire the property Inom Vallgraven 20:4, located at Kungsgatan 46, at an underlying property value of SEK 87 million. The property has total commercial floor space of approximately 2,500 square metres.
The completion date for the property transfer is December 15, 2011. The sale will have a marginally positive impact on profit for the Hufvudstaden Group.
The acquisition of the Inom Vallgraven 12:2 property means that Hufvudstaden will own the whole block, which totals around 23,000 square metres and comprises office, retailing, parking and residential space.
Ivo Stopner, President of Hufvudstaden, stated: "With this acquisition we will have the opportunity to adopt a full and systematic approach to the block and in time develop it into an even more attractive marketplace for offices and stores in the best city location in Gothenburg."
Stockholm, November 23, 2011
HUFVUDSTADEN AB (publ)
Questions can be answered by:
Ivo Stopner, President, or Magnus Jacobson, Head of Finance, telephone +46 (0)8-762 90 00.