Tenants now starting to move into 252 cooperative apartments at West Side Solna
Today, tenants will begin taking possession of their apartments in SSM’s West Side Solna, a project with 252 cooperative apartments. West Side Solna is a joint venture between SSM and Alecta that is expected to be fully completed by the end of Q1 2020. At the moment, 70 percent of homebuyers in the project have signed grant agreements with the Brf West Side Solna housing association. The handover process that has now started will have a marginal effect on SSM in Q3 2019 and from Q1 2020, it will impact the company’s cash flow positively.
As planned, tenants will begin moving into the 252 cooperative apartments in SSM’s attractive urban West Side Solna housing project today. The project, which has an Urban Score of 100, is located between Solna and Sundbyberg, close to the subway, shopping and recreational areas. The buildings are between six and eight stories high with one to four-room units ranging from 23 to 97 m2. Some 91 percent of the homes are between 23 and 56 m2. Most have a private balcony and all offer access to social spaces including a shared terrace and outdoor pool. There is commercial space within the project intended to provide the housing association with future sources of income.
West Side Solna is a joint venture project between SSM and Alecta that will be fully completed by the end of Q1 2020. At the moment, 178 grant agreements have been signed with the Brf West Side Solna housing association, whereof 109 grant agreements during 2019.
- We’re delighted that tenants will start moving into West Side Solna today. The project offers attractive living in an urban area with excellent public transport at the same time as it offers homes that are affordable and well planned – most with private balconies, says Mattias Lundgren, interim President & CEO, SSM.
The handover will have a marginal effect on SSM in Q3 2019 and from Q1 2020, it will have a positive effect on the company’s cash flow.
This information is such that SSM Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07:45 CEST on September 25, 2019.
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About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group – the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 50 percent cooperative apartments and 50 percent rental units. SSM is the leading property developer in its niche within the Greater Stockholm area and at end of June 2019, the company has approximately 6,200 building permits in its portfolio. SSM has been listed on Nasdaq Stockholm main list since April 6, 2017. www.ssmlivinggroup.com