Tain Swedish Property AB was sold on 31st March 2017. Unfortunately, due to the significantly increased development contributions being sought by the local municipality at the last minute, Tain were unable to secure an economically viable development plan for the area. While there was a positive return on the investment, it was unfortunately much smaller than originally anticipated.
50% of shareholder equity was repaid following the sale of a 7,800 m2 factory to the tenant. This sale represented about 28% of the rental income and 3.5% of the land area. The detailed plan for the area progresses, with detailed planning expected in the first half of 2015.
The purchase of the 50 hectare site in Karlstad was concluded in January 2008 for a price of 72,450,000 SEK including closing (approx. 7.8 M euro).