Fabege sells the property Stuten 12 in the citycenter of Stockholm for SEK 1,185 million with a realised change in value of SEK 180m. The sales price corresponds to a yield of about 4.8 per cent. The buyer, Bank of Ireland Private Banking, on behalf of it’s private clients will take possession of the property on 1 February 2006.
Stuten 12 located at Kungsgatan 25-27, Regeringsgatan 67-71 and Oxtorgsgatan 2-4 comprises about 15,000 sq. m of lettable office and retail space. The property was completely rebuilt over the last three years and the conversion project was recently finished. The property is almost fully let. – The property is fully developed by us and the sale is in line with our business concept, Erik Paulsson, CEO, comments the deal. Forecast change The earlier communicated forecast for the profit before unrealised changes in value and tax was estimated at SEK 1,500m for the full-year 2005, but is now estimated to amount to at least SEK 1,700m. Fabege AB (publ)