Atrium Ljungberg agrees a major property acquisition in Lindholmen in Gothenburg
Atrium Ljungberg has signed an agreement for two acquisitions in Lindholmen in Gothenburg: M1 and Centralstationen, which form part of the Lundbyvassen 4:6 property. Together, these buildings comprise 22,000 m2 and are being acquired for a total of about SEK 448 million. This acquisition enhances Atrium Ljungberg’s position as an active urban developer in Lindholmen.
M1 was originally built as a machinery workshop for the shipping industry, but was converted into offices, a restaurant, a museum and an industrial laboratory in modern times. Centralstationen is a small building, which is currently home to educational facilities and music studios. The buildings were constructed at different stages during the 1930s and 1950s and comprise a total of 22,000 m2 letting area. The acquisition will take place through a share deal with an underlying property value of SEK 447.5 million. It is conditional on the detailed development plan for the property becoming legally binding, which is expected to take place by the start of 2024. The deal includes a commitment to develop the street environment along Götaverksgatan, which comprises a total of 1,500 m2. Possession is expected to take place at the beginning of 2024. The seller is Älvstranden Utveckling AB.
“Gothenburg is one of our main priority areas and we’ve been an active property owner here since 2015. I’m so happy that they have put their trust in us, so that we can continue to develop Lindholmen into an attractive and vibrant city environment,” says Annica Ånäs, CEO of Atrium Ljungberg.
Atrium Ljungberg already owns the properties M2, Tornen, Citadellet and Lindholmen 30:1, which together comprise 73,000 m2 letting area. The company has also recently acquired all the business premises in HSB’s residential block Blanka along the street Götaverksgatan. The acquisition of M1 and Centralstationen puts Atrium Ljungberg’s in an even stronger position to be involved in the development of an attractive, sustainable urban environment in Lindholmen. The ambition is to create two thoroughfares with busy ground floors that converge onto a green square that will be called Maskinparken in front of M1. The thoroughfares will create a link to Lindholmsallén, Karlastaden and the future ferry dock.
“It’s so positive to see that Lindholmen remains an attractive area for investors. Atrium Ljungberg has a long history as an urban developer and will use its experience to further develop the area in a way that fully reflects the plans we have for Lindholmen,” says Lena Andersson, CEO of Älvstranden Utveckling AB.
Nacka, 9 March 2021
Atrium Ljungberg AB (publ)
For further information, please contact:
Johanna Jonsson, Transaction Manager, Atrium Ljungberg +46(0)70-812 42 13, johanna.jonsson@al.se
Atrium Ljungberg is one of Sweden’s biggest listed property companies. We own, develop and manage properties in growth markets in Stockholm, Gothenburg, Malmö and Uppsala. Our focus is on developing attractive urban environments for offices and retail, supplemented with residentials, culture, service and education. The total letting area is approximately 1.1 million m2 valued at SEK 47 billion. Our areas include more than 30,000 workers and students as well as 1,000 residents. Our project portfolio will enable us to invest the equivalent of approximately SEK 38 billion in the future. Atrium Ljungberg is listed as ATRLJ-B.ST on the NASDAQ Stockholm Large Cap list. Find out more at www.al.se
