Sjælsø Gruppen A/S acquires attractive site for residential units in Værløse (DK)

Sjælsø Gruppen has acquired a site with a size of 66,000 m² from the municipality of Værløse with a possibility to build 12,000 m² residential units.

This very attractive and sloping site is situated in the new town area of Værløse called Ryget Skovby, close to the golf course and the Ryget forest. The site is characterized by its heavy sloping ground against northwest. This sloping ground permits a possibility for a very exiting project with a unique view.

In co-operation with the Architects Juul & Frost Sjælsø Gruppen has prepared a development project comprising 90 residential units which will provide the basis for a revision of the existing district plan. The district plan will be submitted for public hearing in spring 2006.

The total project value is expected in the range of DKK 400 million. This lease does not induce Sjælsø Gruppen to revise its economic expectations. Thus, the expected result before tax for 2006 remains approx. DKK 600 million.

Source: Sjælsø Gruppen

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