Sjælsø acquires major project in Stockholm

Lagt online 14.05.08

Sjælsø has acquired a 25,000 m2 office building in Solna municipality in Stockholm for SEK 290 million. The seller is the Swedish property company Vasakronan and, in addition to the property, the deal includes a large land area which, following detailed projectdevelopment in co-operation with Solna municipality, isexpected to result in a new residential and office project totalling 60,000 m2 in a highly attractive location.

Located a few minutes from central Stockholm with views of Pampas Marina and Ulvsundasjön, the site has easy access to both the Tunnelbanen and the Swedish road network. Project development of the area has been initiated and a new local plan is expected to be in place by 2009. The existing 25,000 m2 is partly leased to Sweden’s Working Environment Agency.

The remaining part of the building is expected to be leased to one or more tenants as partof the further development of the property and the overall project. The acquisition provides Sjælsø with a strong foundation for the further increase of the company’s activities in Sweden.

Sjælsø’s largest project in Sweden to date is an office and retail project in Älvsjö with a project value of DKK 475million, which was sold to Property Group in October 2007. The project has just been completed and will be handed over to the buyer this month.

While the acquisition of the Solna project does not impact on the profit forecast for 2008, it supports Sjælsø’s long-term earnings potential in the Swedish market. The profit forecast for 2008 remains at the level of DKK 800 million before tax and exclusive of any value adjustments.

For further information: Sjælsø Gruppen A/S Flemming Joseph Jensen, CEO Tel. + 45 48 10 00 00  

Picture: Sjælsø's new housing project in Stockholm close to the sea. CEO Flemming Jensen.

Til nyhedsoversigt

Til nyhedsoversigt