Wallenstam acquires property in Sundbyberg – plans to build new apartments

Wallenstam has acquired the property Freden Större 11 in Sundbyberg from Profi Fastigheter through a company. The transaction comprises a development project in Hallonbergen/Ör with development rights for the possible construction of 600-800 new apartments, and also existing buildings of around 37,000 sq m. New zoning plans have passed review and are in preparation for adoption. The agreed property value amounts to SEK 493.5 million and the day of taking possession is 31 March 2015.

“The acquisition will allow us to contribute further to urban development in Sundbyberg, where we will be able to take a holistic approach to the area and develop an entirely new city district with various forms of tenure. Our previous experiences of running development projects in the municipality are very good, especially now that the Tuletornen and Tuletorget projects are nearing completion. So we are extremely pleased that we now have the opportunity to take on the next major urban development project in Sundbyberg,” says CEO Hans Wallenstam.

The property acquired by Wallenstam is in an extremely good location in Sundbyberg bordering on the extensive Stora Ursvik and Järvastaden areas, and the new Arenastaden city district is located nearby. It is 13 minutes from Stockholm central station by Metro, and there are a large number of sports facilities and several popular green spaces such as Lötsjön and Råstasjön within walking distance.

 Sundbyberg is the nation’s smallest municipality by area, but in spite of this it has Sweden’s most dynamic population growth and its highest rate of residential construction.

Of the existing buildings included in the acquisition, office space constitutes around 64 per cent while the remainder is chiefly retail and warehousing.

“After five years of intensive planning, being able to hand over the project to Wallenstam, one of Sweden’s biggest and most prominent residential developers, is extremely exciting. I am extremely proud of this major housing project, developed in-house and in close and especially good collaboration with Sundbyberg municipality,” says Staffan Olsson, MD of Profi Fastigheter AB.

Wallenstam AB (publ) is required to make this information public under the provisions of the Swedish Financial Markets Act and the Swedish Financial Instruments Trading Act. The information was made publicly available on 23 March 2015 at 08:00.   

For further information:
Elisabeth Vansvik, Director of Communications, Wallenstam AB (publ) tel. 0705-17 11 38

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 28 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.