JM acquires property at Brommaplan in Stockholm
JM is acquiring two properties at Brommaplan in Stockholm with the aim of taking part in the development of a total solution for Brommaplan. The deal is worth SEK 170 million, including the possibility of future residential building rights. The acquisition takes place in a company with an underlying property value of SEK 140 million. JM will both take possession and pay the majority of the purchase sum today. Fabege is the seller.
The Stockholm City Development Administration has also decided to set aside land for JM on part of the adjacent property, Åkeshov 1:1. JM plans to build a total of about 600 residential units and 14,000 m2 for services and retail premises on these three properties.
“Brommaplan is one of Stockholm's most important hubs,” says Mikael Åslund, regional manager at JM. “That's why we are extremely pleased to participate, in cooperation with SL and the City of Stockholm, in the total solution for Brommaplan with residential units, a functioning public transport system and commercial facilities.”
The acquisition involves the properties Grammet 1 and Vävnaden 1. Construction on the new project is planned to begin in 2013 with occupancy beginning in 2016.
For more information, please contact:
Mikael Åslund, regional manager: +46 (0)8-782 89 11
Lars-Olof Höglund, head of JM Property Development: +46 (0)73-688 89 83
Tomas Eriksson, press officer: +46 (0)8-782 86 61
JM is one of the Nordic region’s leading developers of housing and residential areas. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 9 billion and the company has about 2,000 employees. JM AB is a public limited company listed on NASDAQ OMX Stockholm, Mid Cap segment.