K-Fastigheter buys building rights for rental apartments at the new Opaltorget in western Gothenburg
K-Fast Holding AB has entered into an agreement to acquire the building rights Göteborg Önnered 45:15 and 45:16. The zoning plan for the properties at Opaltorget in western Gothenburg has gained legal force and K-Fastigheter plans to build around 100 rental apartments in the block.
K-Fast Holding AB (“K-Fastigheter”) has through subsidiary acquired the properties Göteborg Önnered 45:15 and 45:16 from Opaltorget Förvaltning AB. The building rights covers approximately 8,000 square meters gross total area (GTA) and gives K-Fastigheter the option to build around 100 apartments.
“Opaltorget is centrally located in the districts of Tynnered and Önnered in western Gothenburg. For some years now, a major refurbishment project has been underway around the square, which, among other things, results in better infrastructure, more housing and premises”, says Åsa Fredin, Business Area Manager for K-Fastigheter Project Development. “The plot that K-Fastigheter will build on is a key property in the area, with proximity to services, nature, schools, shopping and communications. The Opalkyrkan is already in place in the neighbourhood where our Lateral Low-Rise concept buildings with around a hundred apartments soon will be supplementing. Construction is scheduled to start at the end of next year.”
The purchase price amounts to SEK 50 million and the transaction is financed through existing cash balances. The estimated investment for the completion of this project amounts to SEK 217.6 million and the market value on occupancy date is estimated to approximately SEK 303 million. Lettable area amounts to approximately 6,000 square meters, with an annual rental value of approximately SEK 13.3 million. Transfer of the properties to K-Fastigheter takes place today.
For further information, please contact:
Åsa Fredin, Business Area Manager, Project Development, e-mail: asa.fredin@k-fastigheter.se, telephone: +46 10 167 60 84
Anders Antonsson, IR Manager, e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 708 730 900
As a property company, K-Fastigheter’s objective is to add value for tenants by creating attractive homes with superior comfort. The Group’s operations encompass active property management, project development and proprietary construction operations. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept buildings, developed in-house and constructed for proprietary management. K-Fastigheter provides some 1,900 homes in several locations in the Öresund region, in the province of Småland and in western Sweden, and is assessing new markets as production capacity increases. The Group’s property portfolio has a book value of approximately SEK 5.8 billion, with an annual rental value of about SEK 220 million. Since November 2019, the company’s class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at www.k-fastigheter.se
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