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2016-05-10

Kungsleden AB: Kungsleden divests residential project properties in Gothenburg

Kungsleden divests the residential project properties Rud 4:1 and Rud
760:42 in Ruddalen, Gothenburg. The residential developer Prime
Living acquires the properties for SEK 66 million.

Kungsleden AB (publ) has signed an agreement with the residential
developer Prime Living to divest the properties Rud 4:1 and Rud
760:42 in the residential area Ruddalen, Gothenburg. Kungsleden has
started a zoning plan process to transform the properties into
residential properties as part of the City of Gothenburg's so called
Jubilee Plan. The properties have a total leasable area of 2,055 sqm
with a leasehold concession. The proposed new zoning plan contains
approximately 18,000 sqm residential area, 2,000 sqm retail area and
3,000 sqm garage space.

Prime Living acquires the properties for SEK 66 million, where SEK 32
million is paid upon closing and the remaining SEK 34 million once
the zoning plan obtains legal force. Kungsleden's book value for the
properties amounts to SEK 31 million. Closing will take place in May
and the zoning plan is expected to obtain legal force during 2017.

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For more information, please contact:

Ylva Sarby Westman, Deputy CEO and CIO Kungsleden | +46 8 503 052 27 |
ylva.sarby.westman@kungsleden.se

www.kungsleden.se

Detta pressmeddelande finns tillgängligt på svenska på
www.kungsleden.se/pressmeddelanden

The information was provided for public release on 10 May 2016 at
07:00 a.m.

Kungsleden's business concept is to own, manage and improve commercial
properties in growth regions in Sweden and to deliver attractive
total returns. Kungsleden's strategies to create value are based on
meeting the premises requirements of customers by managing, improving
and developing properties and planning consents and by optimising the
company's property portfolio. Kungsleden has been quoted on NASDAQ
Stockholm since 1999.

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http://news.cision.com/kungsleden-ab/r/kungsleden-divests-residential-pr...
http://mb.cision.com/Main/293/2005527/513282.pdf

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