Castellum acquires for SEK 93 million and sells properties with a capital gain of SEK 15 million

Gothenburg, September 28, 1998
The real estate company Castellum has acquired three properties in Malmö and Stockholm at a total of SEK 93 million. Two properties have been sold at a total of SEK 73 million with a capital gain of SEK 15 million.

Through its local subsidiary in Stockholm, Fastighets AB Brostaden, Castellum has acquired an office and industrial property in Skärholmen, south of Stockholm, for a purchase price of SEK 57 million. The lettable area is 8,100 square metres of which approximately 5 % are vacant. The property acquired is situated next to one of the company's existing properties in the area.

Castellum's local subsidiary in Malmö, Fastighets AB Briggen, has acquired a vacant warehouse property of 7,300 square metres in the industrial harbour in Malmö. The purchase price amounts to SEK 13 million. Moreover, Briggen has acquired an office and warehouse property at the northern approach to Malmö for SEK 22 million. The property has a total lettable area of 8,700 square metres, of which about 20 % will be vacant at the time of taking over. Both the properties acquired are adjacent to the company's existing holdings.

The acquisitions, except the vacant property in the industrial harbour in Malmö, will immediately after take over return a profit after full charge of interest and depreciations.

Fastighets AB Brostaden, has sold an industrial property in the municipality of Botkyrka south of Stockholm. The sales price, SEK 39 million, results in a capital gain of SEK 9 million. In Uppsala, the subsidiary Aspholmen Fastigheter AB has sold a residential property for SEK 34 million with a capital gain of SEK 6 million. After this transaction Aspholmen has solely commercial properties in the municipality.

Eklandia Fastighets AB has announced a competition for architects concerning a new office building to be constructed on one of Castellum's larger sites with building permission in Gothenburg. The building permission, which allows a total building area of 40,000 square metres, is situated by Mölndalsvägen in Gothenburg, which is an excellent location close to the highways E6/E20 and R40 to the airport and Borås. The winning draft will form the basis of the local authority's planning as well as the projecting process.

For further information, please contact
Lars-Erik Jansson, deputy CEO, +46 (0)31 60 74 00 / +46 (0)705 92 06 70