Atrium Ljungberg signs development agreements in Hagastaden, Stockholm
It was announced today that Atrium Ljungberg has signed five development agreements with the City of Stockholm. These agreements are for two tenant-owned dwellings that have a total of approximately 440 apartments (37 000 m2 GFA) divided over four stages, and an office block measuring approximately 26,000 m2 GFA above a shared garage in Hagastaden, Stockholm.
The development agreement covers three blocks called Stanford, Cambridge and Pisa, which are located in the eastern part of Hagastaden. The office property, Pisa, will form the northern gateway to Hagastaden, just as Life City, which has just been completed, forms the southern gateway. As a result of these agreements, Atrium Ljungberg will build Bellmansgaraget, which will have approximately 285 parking spaces, as well as three new blocks on top of the garage. The total investment is calculated at just over SEK 5 billion, of which approximately SEK 2 billion is estimated for land acquisition. The land will be paid for once each residential and office project have been started, and the final purchase price will be determined in connection with access to the relevant project. The acquisition will be conditional on the decision by the city council of Stockholm City. The construction of the garage and foundation will begin in spring 2023, the first residential block at the end of 2024, and the goal is for all blocks to be completed by 2030 at the latest.
“We’ve been an active property owner in Hagastaden for more than 30 years, so it feels incredible to be able to expand here. It’s exciting to see how this location is developing. Once the underground is up and running in 2028, this area will become a natural part of the inner city,” says Annica Ånäs, CEO Atrium Ljungberg.
“The collaboration with Atrium Ljungberg means that we ensure more attractive housing and workplaces in Hagastaden. This will be a key addition to Stockholm and an important part of the work to develop a completely new district,” says Anna König-Jerlmyr, Mayor of Stockholm.
By 2030 Hagastaden is planned to grow by 50,000 workplaces and 6,000 new residential apartments. One of the largest park projects in the city is also expected to pass through the heart of this district, linking Hagastaden with Haga Park and Lake Brunnsviken. Atrium Ljungberg is one of the largest property owners in Hagastaden, with approximately 80,000 m2 offices, and has been operating in the area for more than 30 years.
Nacka, 09/08/2022
Atrium Ljungberg AB (publ)
For further information, please contact:
Marianne Perslow, Head of Communication, Atrium Ljungberg, marianne.perslow@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, distributed across around seventy properties and valued at SEK 60 billion. Our retail hubs draw almost 60 million visitors on an annual basis and 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 39 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.