SBB and local property developer build rent regulated residentials and elderly care home in central part of City of Västerås for SBB's own management
The project, which is being done in collaboration with the local property developer, Ludvigsson family, refers to new construction of an elderly care home and rent regulated residentials on a building right of about 21,000 BTA. The housing comprises 174 residential apartments and an elderly care home with 90 apartments rented by the City of Västerås with a 25-year lease. The property is located at Ängsgärdet in the central parts of Västerås approximately one kilometre from Västerås Central Station. Building permits are expected to gain legal force during the autumn of 2020 and the construction is expected to be completed in the spring of 2023. The construction contract is awarded at a fixed cost. Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) will own the property for long-term management. Rental income is estimated to be SEK 36-37m on an annual basis. The property will meet high sustainability requirements and will be part of SBB's green financing framework.
“MILU Real Estate (a real estate development company within the Ludvigsson Group) does a great job and we are happy to work with a builder family when we support Västerås City’s growth. Our highest priority is to fulfill Västerås Municipality's goal regarding the need for rapid expansion of a number of elderly care home apartments, and the cooperation provides optimal conditions for meeting just that. We are a big player in Västerås and we will continue to grow with the City,” says Oscar Lekander, Chief Business Development Officer, Samhällsbyggnadsbolaget i Norden AB.
SBB has been advised by Bernstrom & Partners.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, ilija@sbbnorden.se
About Samhällsbyggnadsbolaget i Norden AB (publ)
The company’s strategy is to own, manage and develop community service properties throughout the Nordic region and rental apartments in growth regions in Sweden. Through the company's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the company an attractive long-term partner. At the beginning of 2018, SBB was named the winner of the Real Estate Company of the Year Award for 2017. The company’s series B shares (short name SBB B) and D shares (short name SBB D) are listed on Nasdaq Stockholm, Large Cap. The company’s preference shares (SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: certifiedadviser@penser.se / +46 84638300). More information about the company is available at www.sbbnorden.se.