SSM Holding AB (publ), the leading property developer in the Stockholm region within affordable and space-efficient homes, is continuing to expand by acquiring a housing project on the waterfront in the growing urban area of Hägersten from the Neijp-Henriksberg foundation. The project will include a total floor area of about 12,700 m2 that SSM plans to develop into 250 cooperative apartments. The city plan is already underway. The initial purchase price is 60 MSEK, of which 30 MSEK will be paid when the city plan is finalized. The sale is divided into three equal phases. An additional sum will be paid when SSM achieves a sales rate of 75 percent in each phase. Sales are expected to start in 2019, with the first tenants moving in during the latter part of 2021.
SSM has acquired a unique housing project in the growing urban area of Hägersten (Stockholm Municipality). The property is ideally located on the shore of Lake Mälaren close to the Axelsberg subway station and just 15 minutes from Stockholm’s Central Station. The area also offers a wide range of services as well as entertainment and recreational activities.
The project will have a floor area of about 12,700 m2 BOA that SSM intends to develop into 250 cooperative apartments. The sale will be carried out in three phases and the project will be run entirely by SSM. The sales start is planned in 2019 and the first tenants are expected to move in during the second half of 2021.
The property is being sold by the Neijp-Henriksberg foundation. The city plan is underway and the initial purchase price is 60 MSEK, of which 30 MSEK will be paid when the city plan has been finalized. An additional sum will be when SSM achieves a sales rate of 75 percent at each phase of the project.
– The market for acquiring attractive projects is good. This project in Hägersten is extremely competitive and fully in line with our customers’ demand for affordable housing in urban environments, close to good public transport, making it a valuable addition to our project portfolio, says Mattias Roos, President & CEO of SSM.
Following the acquisition, SSM will have approximately 6,700 building rights in the planning or production phase and a sales rate of 97.1 for apartments in ongoing production.
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About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and in November 2017, the company had approximately 6,700 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) April 6, 2017 www.ssmlivinggroup.se