TK Development A/S
TK Development sells building lot at Amerika Plads, Copenhagen

TK Development A/S 

12.12.2014 14:30

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Company announcement no. 23/2014

Aalborg, Denmark, 2014-12-12 14:30 CET (GLOBE NEWSWIRE) -- 

Summary:

  -- Today TK Development has entered into an agreement to sell a building lot
     at Amerika Plads to A.P. Møller - Mærsk A/S.
  -- The building lot has been sold at a price of DKK 97.5 million, and TK
     Development's ownership interest is 50 %.
  -- The sale is expected to be completed in mid-2015 and will thus positively
     impact results in the 2015/16 financial year.



Building lot at Amerika Plads in Copenhagen sold to A.P. Møller - Mærsk A/S

Since 2002 TK Development has developed sites and projects at Amerika Plads in
Copenhagen in a 50/50 partnership with Københavns Havn A/S, now
Udviklingsselskabet By & Havn I/S, and the partnership has also successively
built an integrated underground car park in the area. Two building lots
totalling about 25,500 m2 still remain to be developed, and an agreement has
now been made to sell one of these building lots of 13,000 m2 to A.P. Møller -
Mærsk A/S at a total price of DKK 97.5 million. 

A.P. Møller - Mærsk A/S is expected to take over the building lot in mid-2015,
and the sale will thus positively impact results in TK Development's 2015/16
financial year. 

The proceeds of the sale will go to P/S Danlink Udvikling, which is jointly
owned by TK Development and Udviklingsselskabet By & Havn I/S, and which is
successively putting the lots into active use and building the integrated
underground car park in stages. Following this sale, only one unbuilt lot with
building rights for about 12,500 m2 will remain at Amerika Plads. The startup
of activity on this lot will predominantly consist of housing development, and
the public authorities have granted an approval in principle for the project.
An agreement is expected to be concluded with an institutional investor about
joint development of the remaining building lot. The final development of the
total areas at Amerika Plads will optimize the occupancy and operation of the
underground car park. 

The Management of TK Development are satisfied to have triggered activity on
yet another building lot in the area, this time through a sale to A.P. Møller -
Mærsk A/S, which is expected to build an office building. Thus, another
distinctive project at Amerika Plads will join such icons as 'Kobbertårnet'
housing the law firm of Plesner, 'Ankeret' housing Camillo Eitzen, the Adina
Apartment Hotel, as well as the housing projects 'Nordlyset', 'Amerika Hus',
'Fyrtårnet' and 'Zinkhuset'. 

TK Development maintains its profit forecast for the 2014/15 financial year.



Contact information:

TK Development A/S, Frede Clausen, President and CEO, tel. +45 8896 1010
News Source: NASDAQ OMX



12.12.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      TK Development A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010258995
WKN:          
 
End of Announcement                             DGAP News-Service
 
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