STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Listed Swedish property company Kungsleden has signed a 16-year contract on approximately 5,300 sq.m. with the International English School in Umeå, northern Sweden. IES will start up in August 2015 with grades 4-9 in Kungsleden’s property Aspgärdan 18 in the Teg district, just south of central Umeå.
In 2013, Kungsleden and the municipality of Umeå, who owns the adjacent land, began to develop the Böleäng sector in Teg outside Umeå into a new, attractive residential quarter with housing, schools and services. A new zoning plan has allowed the International English School to become established in a sector of the quarter and a zoning plan for adjacent land is also being produced.
The current property consists of five buildings originally constructed as slaughterhouses in the 1950s and 60s. The property has subsequently been converted and extended in stages, and used for light industry, manufacturing, offices, warehouses and events. The existing premises are now being converted to practical, state-of-the-art school premises with an adjacent school yard scheduled for completion ahead of IES opening in the autumn term of 2015.
“Umeå is one of Sweden’s fastest-growing regions and we’re pleased to be participating in the city’s expansion. The setting of our property has changed over the years, and we’re now looking forward to developing a new attractive quarter alongside the municipality of Umeå and the International English School. The conversion of the premises to a state-of-the-art school that allows IES to become established in Umeå represents positive progress for Umeå and the surrounding area,” commented Frida Stannow Lind, Head of Property Development at Kungsleden.
“We’ve been searching for premises in Umeå for some time now, and have only recently found a suitable building that meets the high demands we make on educational premises. We’re now looking forward to starting up the school in Umeå and expanding our already positive collaboration with Kungsleden and the municipality of Umeå,” commented Jörgen Stenquist, Deputy CEO at the International English School.
Last spring, Kungsleden also signed a ten-year contract on approximately 6,200 sq.m. with the International English School in Tyresö, near Stockholm, which will be inaugurated on 22 August 2014.
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 21 August 2014 at 7:30 a.m.
Kungsleden’s business concept is to own, manage and improve commercial properties in growth regions in Sweden and to deliver attractive total returns. Kungsleden’s strategies to create value are based on meeting the premises requirements of customers by managing, improving and developing properties and planning consents and by optimising the company’s property portfolio. Kungsleden has been quoted on NASDAQ OMX Stockholm since 1999.
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