SSM acquires new housing project for approximately 150 apartments in Sollentuna
SSM Holding AB (publ), the leading property developer in the Stockholm region within affordable and space-efficient homes, is continuing to expand its operations by acquiring a housing project in Rotebro (Sollentuna) from Galjaden Fastigheter AB. The project will cover about 7,000 m2 of floor space that SSM intends to develop into approximately 150 cooperative apartments. The initial purchase price is 25 MSEK after which an additional purchase price will be applied once the project’s detailed development plan is approved. Sales is planned to start in the third quarter 2019 and the first tenants are expected to move in during the latter part of 2021.
SSM has acquired a housing project in the fast-growing Rotebro (Municipality of Sollentuna) from Galjaden Fastigheter AB corresponding to an initial purchase price of 25 MSEK as well as an additional purchase price that will be applied once the project’s detailed development plan is approved. The property (Ritsalen 1) is strategically located near Rotebro's commuter train station and has good connections to both Stockholm, Uppsala and Stockholm Arlanda Airport. The Municipality of Sollentuna expects the number of people moving to the municipality to continue to be high and has a vision to develop the area around the commuter train station into an attractive new district with approximately 4,000 new homes and 12,000 new residents.
The acquisition includes about 7,000 m2 of floor space that SSM intends to develop into approximately 150 cooperative apartments.
The project will be run entirely by SSM and sales is planned to start during the third quarter 2019, with access from the latter part of 2021.
- Rotebro's strategic location close to both Stockholm and Uppsala and its access to good public transport, green areas and outdoor recreation address the demands of our specific customer group – tomorrow’s urbanites. Our new project in Rotebro will therefore be a valuable addition to our project portfolio, says Mattias Roos, President & CEO of SSM.
Following the acquisition, SSM will have approximately 6,100 building rights in the planning or production phase.
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About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and as per July 2017, the company had approximately 6,100 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-Cap) April 6, 2017. www.ssmlivinggroup.se