Completed property transactions and project starts during the first quarter 2019
During the quarter, the freehold of a site leasehold right in Gothenburg was bought and the property Mässhaken 2 in Helsingborg was sold. Wallenstam also started the construction of about 770 apartments during the quarter.
“We are continuing our new production of mainly rental apartments for our own management operations, where we are maintaining a production rate of 1,500-2,000 apartments per year. There is still a severe housing shortage and it feels very satisfying to be able to provide new rental apartments to the market when demand is so high,” says Hans Wallenstam, CEO of Wallenstam AB.
During the quarter, Wallenstam started construction of the following:
- 305 rental apartments in Söra Kvarter, Österåker
- 50 co-op apartments in the New York block, in Gärdet, Stockholm
- 141 rental apartments in phase 2, Umami Park in Hallonbergen, Sundbyberg
- 270 rental apartments in Kallebäcks Terrasser, Gothenburg.
Occupation in all of the above projects is estimated to occur by 2020-2021.
The following transactions were completed during the quarter:
- The freehold of the site leasehold right for the property Inom Vallgraven 60:9 with address Ekelundsgatan 5-7 / Otterhällegatan 6 was bought from the City of Gothenburg. The purchase price amounted to SEK 30 million, and possession occurred on January 1, 2019.
- The property Mässhaken 2 in Helsingborg was sold to Willhem. The agreed property value amounted to SEK 229 million, and the property was vacated on February 27, 2019, when the sale of the property was also announced in a press release.
For further information:
Susann Linde, CFO and Head of Investor Relations Wallenstam AB (publ) tel. 46 31 20 00 00 or 46 705 17 11 34
Elisabeth Vansvik, Communications Director Wallenstam AB (publ) tel. 46 31 20 00 00 or 46 705 17 11 38
Wallenstam is a property company that manages, builds and develops properties for sustainable living and enterprise in Stockholm, Gothenburg and Uppsala. The property holding is valued at around SEK 46 billion and the customer base consists of around 9,000 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.