Skanska acquires land for residential development in Stockholm for approx. €33 million (SE)

Skanska Residential Development Nordic has entered into an agreement with the Trelleborg Group for the purchase of land in Södra Hammarbyhamnen in Stockholm. The purchase price will amount to approx. €33 million (SEK 330 mln) and is based on the assessed development level. At takeover, a payment of approx. €10 million (SEK 100 mln) will be made and on acceptance of the detailed development plan a supplemental payment, the amount of which will depend on the level of development.

Södra Hammarbyhamnen is in a highly attractive location with immediate access to waterfront and public communications. In the adjacent Hammarby Sjöstad, Skanska has developed and sold 268 apartments.

Skanska is currently initiating the work to prepare a new detailed development plan for some 500 residential units and approximately 40,000 m² of commercial premises. The apartments will have between one and five rooms plus kitchen and bathroom. Sales are scheduled to commence in 2009.

"The exclusive waterfront location with good communications in Södra Hammarbyhamnen offers us unique opportunities to develop an attractive and vibrant area for both living and working," says Björn Ljungdahl, District Manager, Skanska Residential Development Nordic.

Source: Skanska

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