JM acquiring property in central area of Uppsala
JM is acquiring the Kungsängen 44:1 property at Kungsgatan 66 in central Uppsala, where the Slotts’ mustard factory was previously located. The transaction is worth SEK 117 m, with occupancy and payment planned for Q4 2016.
The property is being sold by Magnolia Bostad AB (Moutarde Holding AB). The acquired property’s detailed plan has gained final approval, and sales for the first phase – 51 apartments of around 320 – will begin in Q4 2016. Production start-up is planned for Q2 2017, and initial occupancy is planned from Q4 2018. The transaction will be reported within the JM Residential Sweden business segment.
“With its location next to the south entrance of Resecentrum, the area is optimal for commuters. The apartments will offer views of both Uppsala’s classic silhouette with the palace and cathedral in the background and of the new Juvelen building landmark. The Kungsgatan 66 project will have an elegant and vibrant personality, with the ambition to serve as a symbol of urban life. Here we are building modern urban homes for the modern urban person,” says Per Johansson, Regional Manager, East Region JM.
For additional information, please contact:
Per Johansson, Regional Manager, East Region +46 (0)18 66 03 39
Sepideh Imani, Head of Communication and Analysis, +46 (0)8 782 14 29
This information is information that JM AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 2016-12-05.
JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 15 billion and the company has about 2,400 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.
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