“Our urban development strategy is to develop large, cohesive areas that have a mix of activities such as offices, retail, residentials and education, and we have a project portfolio with the possibility of investing SEK 40 billion in our own properties and received land allocations. Eken 6 and Eken 14 are our only holdings in Sundbyberg. Selling these properties enables continued involvement in our large-scale urban development projects, such as Sickla, Slakthusområdet, Slussen, and Hagastaden, at the same time as we protect our capital structure,” says Annica Ånäs, CEO of Atrium Ljungberg.

The purchase price is based on a total underlying property value of SEK 2,114 million. Total rental value including surcharges and tenant electricity is approximately SEK 134 million. At the date of possession, the properties’ economic vacancy rate is approximately 5 per cent. The average remaining contract duration is approximately 2.7 years.

The transaction generates gains after tax of approximately SEK 56 million based on the valuation at the end of the quarter, of which approximately SEK -33 million refers to realised change in value after deductions for transaction costs and approximately SEK 89 million refers to deferred tax. The property will be vacated in June 2024, and the gains will be recognised in the accounts for the second quarter of 2024.