The hotel property has 171 rooms with Scandic Hotels as tenant and is included in the business segment Property Management. The divestment is made at a yield of 5.7 percent. The property will be reported as asset held for sale in the balance sheet until the date of transfer.
The divestment is a consequence of the on-going move of parts of the city of Kiruna to enable mining of ore beneath the ward of Norrmalm, where the hotel property is located.
Pandox Divests Hotel in Kiruna
Sweden — Pandox has entered into an agreement to divest the hotel property Hovmästaren 1 (Scandic Ferrum) in Kiruna for EUR 28M. The buyer is the state-owned mining company LKAB and the date of transfer is planned to December 1st 2018.<br />
Maria Olsson Äärlahtmaria@nordicpropertynews.com