Pandox Divests Hotel in Kiruna

Sweden 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.

2018-04-03

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Anders Nissen. Image: Pandox
Anders Nissen.

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. 




Maria Olsson Äärlaht
maria@nordicpropertynews.com




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