Letter of intent regarding Östermalmshallen
Wallenstam has signed a letter of intent with the City of Stockholm regarding the building, which has been used for the evacuation of Östermalmshallen. The building, which is located at Östermalmstorg, opened in 2016 when the regular market hall was to be renovated, and it closed for good on February 15, 2020.
The letter of intent means that the City of Stockholm and Wallenstam will jointly work for a conveyance of the market hall through a purchase agreement and that Wallenstam will be given the exclusive right to negotiate with the City about the purchase up to and including February 1, 2021. The next step after the letter of intent is to conclude the agreement and sign a contract, the ambition is to do so during January 2021.
“It is a fine property and in this way we want to help the City of Stockholm to find a sustainable continued use of the building,” says Hans Wallenstam, CEO of Wallenstam.
“We see different possible uses and locations for a reuse of the building. However, we cannot say today where and how it will be used in the future since this also requires its own process and will ultimately become a building permit issue,” says Hans Wallenstam, CEO of Wallenstam.
“It is very gratifying from both a sustainability and taxpayer perspective that we have been able to make this agreement with Wallenstam AB, a serious player in the property sector. This building will in time get a new use, and the work on restoring Östermalmstorg can begin,” says Dennis Wedin, Vice Mayor for Housing and Real Estate in the City of Stockholm.
For further information, please contact:
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 56 billion and the customer base consists of around 10,000 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.