Fabege has divested the Grammet 1 property and Vävnaden 1 leasehold at Brommaplan, Stockholm. The purchaser is JM. The sale takes place in the form of a company at an underlying property value of SEK 140m. Grammet and Vävnaden are commercial premises that comprise 7,000 sqm of rentable floor space.

JM intends to develop a large housing project at Brommaplan, which will also include these properties. The buyer will take possession on 17 December 2010. The sale gives rise to an initial after-tax gain of SEK 40m, which will be recognised as profit during the fourth quarter of 2010.

“JM has obtained a land reserve on adjacent land for the development of a large housing project, and is thus a suitable buyer,” says Fabege’s CEO, Christian Hermelin.

Fabege AB (publ)