AB Boratt has acquired building rights for the development of approximately 220 residential units located in Sollentuna just north of Stockholm. The acquisition amounts to c. €13.4m including a paid development contribution. Occupancy and first payment will take place in the first quarter of 2024. The final payment will take place in the second quarter of 2026.
The acquisition will be reported within the JM Residential Stockholm business segment in the first quarter of 2024.
The property has a detailed plan that has gained legal force and is judged to allow the development of approximately 220 Swan Ecolabel residential units, of which 51 are senior homes within JM's subsidiary Seniorgarden AB. Housing start of the first phase, which is Ture Torn, is expected to take place during the first quarter of 2024.
“We look forward to continuing to work together with Sollentuna municipality and developing this centrally located area. Ture Torn will be an architecturally interesting landmark and Sollentuna's tallest building, where the homes will contribute to further strengthening the local area and its values such as proximity to water, green areas and good communications”, said Christina Lamminen, CEO at AB Boratt och Seniorgarden AB.
Image source - Pexels
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