Ericsson is planning a European sale-and-leaseback programme to raise cash from property. The Swedish company, the world’s third-largest mobile phone maker, has revealed a 63% drop in earnings. It is looking to sell the freeholds of 185,800m2 of office and production buildings in eight countries to squeeze out around £250m. Catella, the Swedish-owned European property consultant, has been hired to co-ordinate the exercise, which will involve at least five other agents. In the UK, Ericsson owns the freeholds of four buildings: its UK headquarters at 1 St James’s Square, London; an office in Burgess Hill; and two mobile phone production plants in Worksop and Scunthorpe. Catella’s UK office has been appointed to advise on the three buildings outside London. It is not clear whether all three would be included in the sale-and-leaseback programme.
Ericsson is planning a European sale-and-leaseback programme to raise cash from property. The Swedish company, the world’s third-largest mobile phone maker, has revealed a 63% drop in earnings. It is looking to sell the freeholds of 185,800m2 of office and production buildings in eight countries to squeeze out around £250m. Catella, the Swedish-owned European property consultant, has been hired to co-ordinate the exercise, which will involve at least five other agents. In the UK, Ericsson owns the freeholds of four buildings: its UK headquarters at 1 St James’s Square, London; an office in Burgess Hill; and two mobile phone production plants in Worksop and Scunthorpe. Catella’s UK office has been appointed to advise on the three buildings outside London. It is not clear whether all three would be included in the sale-and-leaseback programme.
