NREP has purchased Vallingby Centrum in Stockholm, Sweden from Svenska Bostader for €161m. Vallingby Centrum forms the heart and hub of the western part of The City of Stockholm, and was inaugurated in 1954 as Sweden’s first ABC city – “Arbete – Bostad – Centrum”, meaning "Work – Living – City Centre”. The ABC model is a community-based planning programme that was founded in Sweden in the 1950s and has since been replicated world-over, forming the basis of the more internationally known ’15-minute city’. The concept behind these suburban zones, is that they would offer its residents everything they possibly needed, serving as self-functioning communities filled with housing, employment, retail and leisure amenities, alongside important social and cultural functions too.
Vallingby Centrum – the ‘C’ of this ABC city – comprises 76,206m² of space divided into six properties offering multiple uses including local necessity-driven retail, offices and a range of community services. The surrounding public spaces, including a town square, will remain under the municipality's ownership, with whom NREP intends to collaborate, sharing a focus on social sustainability with a holistic approach to how the properties can contribute to enriching people’s everyday lives. Presenting a unique mix of culture, commercial activities, workplaces and open areas, NREP wants to maximise the Vallingby Centrum’s potential as a desirable meeting point and place to convene, as well as being an everyday destination to run errands, for inhabitants and visitors alike.
Rickard Svensson-Dahlberg, Co-founder & Partner at NREP, said: “It’s a great privilege to be entrusted with the responsibility for steering this landmark centre into its next phase of sustainable operation, and is testament to NREP’s track record as a trusted partner of choice for public organisations. Having long drawn inspiration from the 15-minute city model, as reflected in numerus district development projects successfully executed by NREP, Vällingby Centrum provides an exciting opportunity to enhance the potential of a vibrant community hub with social sustainability at its core. We want to pay homage to its roots by seeing it prosper as a desirable place to live, work and play, and that’s welcome to all.”
Dennis Wedin, Deputy Mayor for Housing and Real Estate at the City of Stockholm, added: “The City of Stockholm is pleased to have made this agreement with NREP for Vällingby Centrum. From the outset, it was important for us to find a professional and responsible partner that had the ability and vision to utilise the opportunities on offer at this unique asset to the greatest extent. This transaction will importantly ensure that the City can focus on increased housing delivery for Stockholm.”