STOCKHOLM, Sweden, Feb. 1, 2002 (PRIMEZONE) -- The real estate company Castellum has, through its local subsidiaries, sold building permissions and commercial properties in the Stockholm region and Gothenburg at a total of SEK 100 million, with a capital gain of SEK 48 million.
Through the subsidiary Fastighets AB Brostaden, Castellum has disposed of land with building permissions for housing of in all about 29,000 square metres in Smista Park, close to Kungens Kurva in Huddinge south of Stockholm. The building permissions came about through an active development work, which has resulted in a new, confirmed local town plan for the area. The total sales price amounted to SEK 45 million, implying a capital gain of SEK 29 million. In Smista Park, Brostaden has also sold a commercial building permission of about 4,500 square metres at a price of SEK 7 million with a capital gain of SEK 5 million. After these sales, Brostaden's holding of commercial building permissions in Smista Park amount to about 100,000 square metres.
Brostaden has as well sold a partition of a smaller office and industrial property in Veddesta in the Jarfalla municipality. This sale included an industrial building of about 500 square metres and grounds of about 3,150 square metres. The sales price was approximately SEK 4 million, which implied a capital gain of about SEK 1 million.
In the Sisjon industrial area in Gothenburg, Harry Sjogren AB has sold a fully let office and retail property of 5,255 square metres for SEK 44 million with a capital gain of SEK 13 million.
Inclusive of the above sales, the capital gains from property sales accounted for so far during 2002 amount to approximately SEK 104 million.
Castellum, which is one of the major real estate companies in Sweden operating solely in the real estate sector, owns properties with a book value of about SEK 12 billion. The total lettable area, which comprises commercial premises as well as residential housing, amounts to 2.3million square metres. The real estate portfolio, which is owned and managed by six local subsidiaries, is concentrated in Greater Gothenburg, the Oresund region, Greater Stockholm, western Smaland and Malardalen. The Castellum share is listed on the Stockholm Exchange O- list, Attract 40.
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