Klövern acquires five properties in Västerås from ICA

The properties cover a total of 35,000 sq.m. and include offices, warehouses and a hotel. The yield amounts to 9.5 percent and virtually all the properties have been rented out.

 

“The properties have a central location close to Lake Mälaren and offer considerable development potential. Some of the properties which currently only command a low rent can be developed to cater for other types of business,” comments Klövern’s CEO, Gustaf Hermelin.

 

Klövern will take possession of the properties on December 1, 2004. The seller is ICA Fastighets AB.

 

“We are selling the properties to build up capital that will enable us to proceed with new investments in shops and supermarkets. Those areas of ICA’s business operations that are currently based in the properties will remain as tenants, with Klövern as the other party to the lease agreement,” says Bo Liffner, CEO of ICA Fastighets AB.

 

Nyköping, October 11, 2004

 

 

For further information, please contact:Gustaf Hermelin, President and CEO, tel +46 155-44 33 10, +46 70-560 00 00,

Anders Lundquist, Chief Financial Officer, tel +46 155-44 33 20, +46 70-528 43 33, anders.lundquist@klovern.se

Britt-Marie Einar, Information Manager, tel +46 155-44 33 12, +46 70-224 29 35,

 

 

 

 

 

 

 

Klövern is a listed real estate company active in the Swedish real estate market by acquiring, developing and disposing of properties with a focus on a high return on equity. As at 2 August 2004, the book value of the properties totals approximately SEK 4.0 billion and the rental income on an annual basis is approximately SEK 500 million. The Klövern share is listed on the Stockholm stock exchange, Stockholmsbörsen’s O list Attract 40.

 

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden