Press releases.


2007-09-25

KUNGSLEDEN BUYS LOGISTICS PROPERTIES IN BORÅS FOR SEK 545 MILLION

Kungsleden AB acquires Bockasjöterminalen, Viaredsterminalen, Rydaterminalen I and Rydaterminalen III, all located in Borås, from Bockasjö AB, which is equally owned by Joakim Hedin and Paul Frankenius.

In total, the acquisition comprises approximately 107,000 m² of rentable space and building rights. The yearly rental income amounts to approximately SEK 49 million. The handover will take place on 1 October this year. All of the properties are completely rented out. 
Kungsleden will pay SEK 545 million and the transaction has a yield level of approximately 7%. 

Borås has a strong position in the warehouse and logistics sector. Its long-standing tradition of trade, strong product and goods flows, its strategic geographical location and competitive price level is what characterises Borås’ strong position in the warehouse and logistics sector. 

Bockasjö has built up a significant portfolio of terminals and warehouses in the Borås area, which will now be taken over by Kungsleden.

"One of the reasons why we are now choosing to sell is that we have a comprehensive development portfolio in Dubai that will require significant financial commitments over the next few years. We see ourselves more as property developers than managers. The terminals we are divesting are completely or partially refurbished, renovated and fully rented out, and are entering a management phase. The building rights we are transferring are all connected to the properties we are divesting as it would not have been possible to maintain these and continue with other developments,” says Joakim Hedin, CEO of Bockasjö AB.

Following the sale of the four terminals, the Bockasjö Group consists of several wholly and partly owned properties - The Ullared fulfilment centre, which is rented by NetOnNet, the jointly owned  Lokstallet properties in Borås and Borås Öfwre Station - a 150,000m² development portfolio in Dubai, an investment in securities trading and the newly formed Bockasjö Skogar, which focuses on the acquisition of forest properties in Latvia.

Questions will be answered by:
Bockasjö AB 
Joakim Hedin +46 (0)705 - 21 53 00

Kungsleden AB
CEO Thomas Erseus +46 (0)8-50 30 52 04
Vice President Johan Risberg +46 (0)8-50 30 52 06