In the middle of 2007, Wihlborgs acquired an office building on Frederikskaj in central Copenhagen. The purchase price amounted to DKK 193 million and possession of the property took place on 31 December 2007.
Wihlborgs had already established a sub-market in the west of Copenhagen in the local authorities of Ballerup and Herlev to be more exact. To further strengthen its presence, an agreement has been established with Dades on the acquisition of three properties in Herlev with an office area of 18,000 m2 at the same time as Wihlborgs sold Fredrikskaj in Copenhagen. The deal will be implemented during the second quarter of 2008.
The purchase price of the properties amounts to DKK 122 million. The direct yield is estimated to be 6.5 per cent. During the first quarter Wihlborgs also purchased a vacant industrial/warehouse property of 1,200 m2 in the vicinity. The purchase price amounted to DKK 9.2 million and is expected to give a direct yield of 7 per cent once it is rented out. Subsequent to these deals, Wihlborgs will own 11 properties in Denmark totalling 105,000 m2.
The sale of Frederikskaj will have no effect on the result.
“The deals give Wihlborgs a further concentration of the stock in Herlev and the sub-market has grown to almost 100,000 m2. Our ambition is to further strengthen our position in this market,” says Anders Jarl, CEO of Wihlborgs.
During the first quarter, Wihlborgs also sold the office and warehouse property Luggude 7 in Malmö for the sum of SEK 24 million.
Wihlborgs Fastigheter AB (publ)
For further information contact:
Anders Jarl, CEO, +46 40 690 57 10, +46 733 71 17 10
Christer Johansson, CFO, +46 40 690 57 06, +46 733 71 17 06
Iréne Johansson, Information Manager, +46 40 690 57 21, +46 733 71 17 21
Wihlborgs Fastigheter (publ) is a property company that focuses on commercial properties in the Öresund region. Its stock of properties is located in Malmö, Helsingborg, Lund and Copenhagen.
Wihlborgs is one of the leading property companies in Malmö and Helsingborg.
The properties’ book value totals SEK 13.4 billion with an annual rental value of SEK 1.2 billion.
Wihlborgs is listed on the Stockholm stock exchange’s Midcap list.