Wallenstam acquires properties at Norrviken strand with an ambition to develop about 2,000 new apartments

Wallenstam has signed an agreement with Brostaden on the acquisition of two properties at Norrviken strand in Sollentuna Municipality. The properties, Rankan 3 and Rankan 4, which are currently undeveloped, are located just adjacent to Norrviken and will be taken into possession by Wallenstam on 1 July 2015. The agreed property value amounts to SEK 185 million. A volume study carried out by Brostaden shows a development potential of about 2,000 new apartments. 

“This transaction is part of our ambition to develop future apartments as well as city districts. Norrviken Strand has fantastic potential for good urban development in a municipality with an attractive location, favourable business climate and good communications. Our ambition is to produce a local plan together with the municipality, which will enable the construction of about 2,000 apartments,” says Hans Wallenstam, CEO of Wallenstam.

The idea for development of housing at Norrviken Strand and Rotebro is in line with Sollentuna Municipality’s comprehensive plan and the feasibility study “Rotebro in transition” – produced as a basis for “Vision Rotebro”, which both seek increased housing development.

“There is huge demand for housing where we operate. Our goal is to start the production of 1,500 apartments annually and transactions like this one will enable us to continue an offensive production rate of new apartments going forward,” says Hans Wallenstam.

The properties Rankan 3 and Rankan 4, with the address Sollentunaholmsvägen 5 m fl. will be taken into possession by Wallenstam on 1 July 2015.

For further information:
Elisabeth Vansvik, Director of Communications, Wallenstam AB (publ) tel. +46 (0)705-17 11 38
www.wallenstam.se

Wallenstam is a growing property company that manages, builds and develops properties for sustainable living and the pursuit of business in Gothenburg and Stockholm. The property holding is valued at around SEK 30 billion and the tenant base consists of just over 7,600 households and 1,000 businesses. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through Svensk NaturEnergi, with 67 of its own wind turbines and hydro power stations in operation. The company's B shares have been listed on Nasdaq Stockholm since 1984.