Magnolia Bostad signs agreement to acquire two properties in Huddinge
Magnolia Bostad signs agreement to acquire Spendrup's old brewery, the properties Gambrinus 2 and Gambrinus 4, in Vårby. Magnolia Bostad will initiate work for a local plan for primarily residential purposes, comprising the development of approximately 1,500 residential units
The acquisition is covered by the framework agreement signed by Magnolia Bostad in November 2016 with Slättö. With the acquisition, Magnolia Bostad has signed agreements for all projects covered by the framework agreement. In total, the framework agreement comprises 13 residential projects, to be developed and sold to Slättö.
The seller is Spendrups and the acquisition, which comprises about 74,000 sq.m. of land, made thourgh company transfers with access at approved local plan. The purchase price is determined based on the size of the building right in the local plan. Program start for local plan is preliminary in the third quarter of 2017.
Vårby Bryggor will be develop into the first marine district in Huddinge municipality and is one of the larger private development areas in the municipality. The area is located near Vårby Strandbad and Gömmaren's nature reserve with good communications within walking distance to two subway stations as well as the planned Tramway south.
Magnolia Bostad's ambition is to develop a new attractive lakefront district. The vision is to develop an area with varied forms of beachfront housing in mixed tenure, residential care apartments and possibly a hotel. The area will be developed into a sustainable and vibrant neighborhood with green spaces and social venues. With the seafront location, there is potential to further improve communications to the area through, for example, new ferry connections to Stockholm.
Legal adviser to Magnolia Bostad was Wigge & Partners Partners and DLA Piper Sweden AB has acted as legal adviser to the seller Spendrups. The deal was communicated by Cushman & Wakefield.
"Huddinge municipality is very pleased that the property is being acquired by a residential developer. This is a great residential location close to Lake Mälaren with shopping in Kungens kurva and development of office areas in Flemingsberg nearby. says Malin Danielsson (L) Municipal Council for Social Affairs.
For more information, please contact:
Erik Rune, VP & Head of Business Development
+46 73-399 40 30, erik.rune@magnoliabostad.se
Mikaela Senator, Investor Relations Manager
+46 70-775 57 57, mikaela.senator@magnoliabostad.se
Magnolia Bostad develops efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's share (MAG) is listed on Nasdaq First North Premier. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se
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