Victoria Park signs agreement for the construction of 16 new flats in Borås
Victoria Park has signed an agreement concerning the construction of 16 new flats in the Hässleholmen district of Borås. The project involves the densification of an existing property and will comprise rental units, with occupancy scheduled to begin in April 2020.
Since 2016, Victoria Park has owned a property at the address Solvarvsgatan in Hässleholmen, that current houses 350 flats. The property includes a building right for a site previously occupied by an older building. Victoria Park is now utilising this building right as a means of densifying the area with an additional 16 rental units. Construction is scheduled to commence in September 2019, with occupancy scheduled to begin in April 2020. The building permit is already approved.
“In addition to value-creating investments and social management, densification projects are conducted by Victoria Park on existing land to increase the lettable area and attractiveness of the areas. By utilising an older building right on the property, as in this case, we can build 16 new flats with en total floor area of approximately 800 square metres”, says Mikael Bengtsson, Head of New Construction at Victoria Park.
The ambition is to gradually build a substantial portfolio of building rights for housing, both rental and tenant-owned. At present, Victoria Park’s total densification potential is estimated at 255,600 GFA sqm, with a market value of SEK 273 M, comprising about 3,200 flats, distributed between the categories of land ready for development, planning process ongoing and new zoning plan under development.
In Växjö, construction is in progress of 30 new rental flats and the project is expected to be completed in autumn 2019. In Linköping, construction of 87 new rental flats of a total of 570 flats, is sceduled to commence in May 2019, with occupancy set to begin in December 2020.
For further information, please contact
CEO Per Ekelund, Tel +46 (0)70 867 66 57, firstname.lastname@example.org
Head of New Construction Mikael Bengtsson, T+46 (0)73 672 28 75, email@example.com
Victoria Park AB (publ) is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth cities in Sweden.
On 31 March 2019, Victoria Park's property portfolio amounted to 1,128,000 square metres, comprising 14,300 flats, with a market value of SEK 18.8 Bn. The shares in Victoria Park are listed for trading on the Nasdaq Stockholm Mid Cap exchange.
Victoria Park AB (publ) Box 2, SE-201 20 Malmö, Sweden Tel +46 (0)40 16 74 40, Corporate Reg No 556695-0738, Head Office Malmö, www.victoriapark.se