ÅF sells Stockholm premises (Group HQ) to GE Real Estate
The ÅF Group is to sell the 10,700 sq. m. premises which constitute the Group's headquarters at its Fleminggatan address in central Stockholm (Härolden 44) to GE Real Estate. Access to the property will be granted during October 2005.
The sale price is based on an underlying property value of SEK 285 million.
The sale is expected to have a positive effect of approximately SEK 130 million on the ÅF Group's financial accounts for the fourth quarter of the year.
The board of directors and senior management group of ÅF reached a decision in the spring of 2003 to sell all eight of the properties then owned by the company. The sale of the premises officially registered as Härolden 44 marks the end of this process.
The funds generated by the sale will be used to develop and expand core activities within the ÅF Group.
The ÅF Group is a leading name in technical consulting. We offer highly qualified services and solutions for process industries, infrastructure projects and the development of products and IT systems. We also carry out certified third-party testing and inspection work. Our proven proficiency in engineering is founded on the in-depth specialist knowledge of many branches of industry that we have built up over more than one hundred years. Today the ÅF Group comprises almost 2,700 employees based in some 50 locations in Sweden and in almost a dozen other European countries.