Castellum divests properties in Helsingborg for SEK 2.4 billion
Castellum announced the divestment of properties Högkvarteret 1 and 2 in Helsingborg to Intea for SEK 2.4 billion on December 28, 2021. The sale results in an impairment of goodwill by MSEK 120 and deferred tax income of MSEK 300. The properties cover 37,500 square meters of lettable area with an annual rental value of MSEK 103, fully occupied by the Swedish Prison and Probation Service and the Swedish Police Authority. This transaction reflects a 23% increase in property value compared to the latest valuation, strengthening Castellum's financial position post the Kungsleden merger.
- Sale price of SEK 2.4 billion indicates strong property market demand.
- Transaction reflects a 23% increase in underlying property value.
- Enhances financial position post Kungsleden merger.
- Impairment of goodwill by MSEK 120 due to the sale.
GÖTEBORG, Dec. 22, 2021 /PRNewswire/ -- Castellum is divesting Högkvarteret 1 and 2 in Helsingborg to Intea. The sale price is SEK 2.4 billion less overheads and deferred tax totalling approximately MSEK 120. The sale resulted in an impairment of goodwill of approximately MSEK 120 and deferred tax income of approximately MSEK 300. The underlying property value exceeds the latest valuation by
The properties have approximately 37,500 square metres of lettable area and a rental value of MSEK 103 per year. The tenants are the Swedish Prison and Probation Service (Kriminalvården) and the Swedish Police Authority (Polismyndigheten). Closing will take place on 28 December.
"The sale will strengthen our financial position after the combination with Kungsleden and will realise an increase in value of approximately
The transaction in brief
Properties: Högkvarteret 1 and 2, Helsingborg
Buyer: Intea Fastigheter AB (publ)
Sale price: SEK 2.4 billion
Closing date: 28 December 2021
Rental value: MSEK 103 per year
Average contract duration: approx. 10 years
Tenants: Swedish Prison and Probation Service,
Lettable area and economic occupancy rate: ~37,000 square metres;
For further information, please contact:
Biljana Pehrsson, CEO Castellum AB, +46 08-503 052 04
Ylva Sarby Westman, Deputy CEO and CFO Castellum AB, +46 706 90 65 97
About Castellum
Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 19 November 2021, the property value totalled approximately SEK 148 billion, based on ownership of all shares in Kungsleden. We are active in attractive Swedish growth regions as well as in Copenhagen and the Helsinki area. Through Castellum's associated company, Entra ASA, the company is also exposed to the Norwegian commercial property market. One of our sustainability goals is to become entirely climate neutral by 2030 at the latest. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.
Beyond expectations.
www.castellum.se
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SOURCE Castellum
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