K-Fastigheter plan for more apartments in Kristianstad
K-Fast Holding AB has signed an agreement on the acquisition of the Hammar 9:197 property in the popular C4 area in Kristianstad. Estimates indicate that the site is suitable for construction of two Apartment Blocks with about 48 apartments and a lettable area of 3,101 square meters.
K-Fast Holding AB (“K-Fastigheter”), an active and committed landlord offering attractive homes in southwestern Sweden, has signed an agreement on the acquisition of the shares in Fastigheten i Hammar 9:197 AB. The acquired company has signed land allocation agreement with Kristianstad Municipality regarding the property Hammar 9:197. The seller is Christianstads Fastighets AB and preliminary purchase consideration for the shares in Fastigheten i Hammar 9:197 AB amounts to SEK 1.3 million and SEK 2,000 per square metre gross total area (“GTA”) building right to Kristianstad Municipality.
“The acquisition provides access to an area in close proximity to our existing and recently completed residential buildings in Hammar, adjacent to the C4 shopping area. Existing land allocation agreement enable us to build two of our Apartment Blocks of six floors,” says Åsa Fredin, Head of K-Fastigheter Project Development.
“We plan to start working on building permit documents immediately and provisionally expect 48 homes. To construct Apartment Blocks in the Hammar area will be inspiring as we have previously built 123 homes in our other concept houses, Low-Rise and Lateral Low-Rise, with good results,” says Åsa Fredin.
The transaction is financed through existing cash balances, with K-Fastigheter assuming ownership of the shares on 31 March 2020.
For further information, please contact:
Åsa Fredin, Head of business area 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: +46 709 994 970
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 1,700 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 SEK 4.4 billion, with an annual rental value of about SEK 200 million. Since November 2019, the company's class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at k-fastigheter.se.
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