Wallenstam buys land for more new construction in Österåker

Wallenstam is acquiring land from Österåkers Golf AB and Aftén Fastigheter AB for future new construction in Österåker Municipality. The sellers are local businessmen who have long strived for the development of Österåker Municipality, both in terms of workplaces and attractiveness for visitors, an ambition which is shared by Wallenstam. Wallenstam has been operating in Österåker since 2018 and currently has about 130 apartments under management and just over 300 apartments under construction in the municipality.

The land, which comprises about 100,000 sq m in total, is located in a central development area adjacent to Österåker GK’s golf course and the municipality’s future multi-sport arena. The intention is an urban development which is aligned with both the sellers’ and the municipality’s visions for existing and planned sports and leisure activities in the surrounding area. Here, new construction is planned of housing and services that will strengthen the entrance to Åkersberga Centrum and which have a character that matches the ongoing initiatives in the area. The zoning plan work is expected to start during 2020, and an initial construction start is then estimated to be possible during 2024.

“Österåker is a very attractive municipality so when we get the chance to expand in this way it creates many opportunities, which we are extremely happy about,” says Hans Wallenstam, CEO.

“Many people are choosing to move to our archipelago municipality which is close to metropolitan areas. For this reason, we are very happy that Wallenstam is continuing to invest in Österåker in order to participate in and realize Åkersberga’s development into a modern city with a small-town feel, offering a diverse range of housing and possibilities,” says Michaela Fletcher (Moderate Party), Chairman of the Municipal Executive Board in Österåker.

The agreement was signed on June 30, 2020 and the purchase refers to Hagby 1:98 and parts of Hagby 1:5. The acquisition is being made via a company transaction and the agreed property value amounts to about SEK 240 million. The property Hagby 1:98 will be taken into possession on September 1, 2020. Parts of the property Hagby 1:5 are planned to be taken into possession when property formation has taken place.

For further information, please contact:
Susann Linde, CFO and Head of Investor Relations Wallenstam AB (publ) tel. +46 31 20 00 00 or +46 705 17 11 34

www.wallenstam.se

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 54 billion and the customer base consists of just over 9,500 households and 1,000 enterprises. The total lettable area is just over 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.