Hotel property company Pandox has signed an agreement to sell the property housing Scandic Alvik in Stockholm to SPP Fastigheter. The underlying property value amounts to SEK 644 million before deduction of deferred tax.
The sale price is slightly above the property’s book value as of 30 September this year and the corresponding date in 2025.
The property, which is part of the Lease Contracts business segment, comprises 330 hotel rooms and has annual net operating income of approximately SEK 34 million.
Pandox intends to use the released capital to reduce debt and create financial scope for continued development. Completion is expected to take place in December.
