Wallenstam sells newly constructed residential property at Gärdet in Stockholm

An agreement has been signed on the sale of Wallenstam’s new construction project in the New York block at Gärdet in Stockholm. The buyers are 14 companies within the Länsförsäkringar Group, which are scheduled to take possession of the property when it is completed on December 15, 2020.

“It feels extremely nice to be able to sell our excellent newly constructed property to Länsförsäkringar. The property has a unique location at Gärdet and I hope and believe that it will be well-suited to their needs,” says Hans Wallenstam, CEO.

Wallenstam’s new construction project New York consists of 50 apartments and two business premises and is located at Gärdet in Stockholm, right next to Länsförsäkringar’s office. The building, with the property designation New York 9 and address Sandhamnsgatan 1A & Värtavägen 68-70, is being sold through a legal entity. The agreed property value amounts to approximately SEK 420 million.

The preliminary vacation date is December 15, 2020, when the project is expected to be completed. As part of the agreement, Wallenstam will be responsible for the technical management for a period of two years from the vacation date. 

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.