Castellum transacts property-business at SEK 314 million

Gothenburg, September 25, 1997
The listed real-estate company Castellum sells, through its wholly-owned subsidiaries, 16 properties at a total of SEK 208 million and acquires 3 properties at a total of SEK 106 million. Moreover has been decided on construction and enlarging projects at a total of over SEK 50 million. The properties concerned are situated in Skåne, Uppsala, Gothenburg and the Stockholm area.

In Kristianstad, Fastighets AB Briggen sells 13 residential properties with in all 37 000 square metres area to the municipal housing company, AB Kristianstadbyggen. The sales price SEK 190 million results in a capital gain of SEK 24 million. By this transaction Castellum entirely winds up its activities in Kristianstad.

Moreover, Castellum sells three minor properties at a total of SEK 18 million with a capital gain of SEK 6 million.

In the so-called IDÉON-area in Lund, Briggen acquires an office property of 3 100 sq.m. at a purchase price of SEK 27.5 million. Furthermore, Briggen acquires, at a price of SEK 55 million, a property of fully 12 000 sq.m. in Berga industrial park in Helsingborg, where the company already owns several properties. This property, which earlier has housed a military regiment, is rebuilt to mainly office premises, of which ca. 4 000 sq.m. are presently vacant.

Aspholmen Fastigheter AB acquires an office- and retail property of ca. 4 400 sq.m in Uppsala at a purchase price of SEK 23 million. In the same area, Aspholmen is going to raise a new building of ca. 6 500 sq.m. during 1998, at a calculated cost of SEK 35 million. The new property, which mainly will contain retail premises, is as good as fully let. For an existing tenant Aspholmen will also carry out an enlargement of a warehouse- and officebuilding in Örebro. The area of the premises will be increased with 2 250 sq.m. in addition to new areas for parking and handling of goods. The calculated investment is SEK 17.5 million.

Each separate investment will already the first year return a profit after full charge of interest and depreciations.

For further information contact
Håkan Hellström, CFO, +46 31 60 74 56
Lars-Erik Jansson, deputy CEO, +46 31 60 74 00