Wihlborgs completes billion-krona deal in Malmö
Through a company transaction, Wihlborgs is acquiring the Karin 11 and Nora 11 properties located on Drottninggatan in Malmö from Niam. The properties comprise about 45,000 m² of lettable area, of which approximately 38,000 m² are offices. A significant proportion of revenue comes from public-sector tenants. Karin 11 comprises two buildings and the tenants include the police authorities and the County Administrative Board.
The west section of Nora 11 has been totally refurbished since 2014. About 14,000 m² of office premises were occupied in spring 2015 by the Swedish Tax Agency, which has leased the premises under a ten-year lease. The redevelopment of the east section of the property has started. The Swedish Tax Agency is leasing a further 2,200 m² in this section and a ten-year lease with another tenant for 6,400 m² has recently been signed. Only 3,600 m² remains to be leased in Nora 11.
On completion, Wihlborgs’ total investment will be SEK 1 billion.
“We are extremely pleased to be able to expand our portfolio and further strengthen our position as the Öresund region’s largest and most profitable property company,” comments Anders Jarl, CEO of Wihlborgs Fastigheter AB. “Niam has been exceedingly successful in its letting efforts at Nora 11, which provides us with a modern property with stable, long-term rental flows from public-sector tenants,” concludes Anders Jarl.
Wihlborgs Fastigheter AB (publ)
Wihlborgs Fastigheter AB (publ) is a property company that focuses on commercial properties in the Öresund region. Its property portfolio is located in Malmö, Helsingborg, Lund and Copenhagen. In Malmö, Lund and Helsingborg, Wihlborgs is the leading property company.The book value for the Company’s properties totals SEK 25 billion. The annual rental value of the properties is SEK 2.1 billion.
Wihlborgs shares are quoted on the Mid Cap List of the OMX Nordic Exchange.
Contact information
For further information, please contact:
Anders Jarl, CEO, Tel: +46 (0)40 690 57 10
Lennart Jönsson, Regional Director, Tel: +46 (0)40 690 57 35
The information is of such a kind that Wihlborgs Fastigheter AB (publ) may be required by law to publish pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication at 1:00 p.m. CET on 1 July.