Fabege has sold the leasehold to the Godsfinkan 1 property to the City of Stockholm. Godsfinkan 1 is located on Heliosgatan 22-26 and comprises office and warehouse space with a lettable area of approximately 7,800 sqm.

The sale will take the form of a company divestment with an underlying property value of SEK 190m and will generate a gain of SEK 15m before tax, which will be recognised during the fourth quarter.

The transaction is conditional upon the approval of the Stockholm city council. The transfer of ownership will occur during the fourth quarter of 2014 at the earliest.

• The transaction is a feature of our continued structural streamlining towards properties with future development potential for offices. Since Godsfinkan 1 is located right in the middle of residential units in Hammarby Sjöstad, we believe that the City of Stockholm is a better owner of this particular property,” comments Klaus Hansen Vikström, Vice President and Director of Business Development at Fabege.

Fabege AB (publ)