Nordic Update
Atrium Ljungberg board ratifies SEK 8 billion investment
Publicerad: 25 januari 2019, 19:23
Annica Ånäs, CEO of Atrium Ljungberg. Photo: Atrium Ljungberg.
The board of Atrium Ljungberg has decided to follow through on the letter of intent signed with the City of Stockholm in August. Thus the property company acquires the existing properties and land allocations in the Stockholm meatpacking district, Slakthusområdet, in the southern parts of the city.
Slakthusområdet will be the largest urban development project in Stockholm in modern times and Atrium Ljungberg will invest roughly SEK 8 billion in the coming 11 years. According to an agreement that has now been signed between Atrium Ljungberg and the City of Stokholm, Atrium Ljungberg will buy the existing properties in two phases; in June 2019 the company will take control over 51,000 sq.m. of lettable area, and furthermore has an option to acquire additional 32,000 sq.m. LFA once the new detail development plan is implemented, no later than at the end of 2021.
“This deal also includes options that enable Atrium Ljungberg to order land allocations of approximately 100,000 sq.m GFA. The acquisitions and land allocations that have been developed comprise a total of approximately 200,000 sq.m. GFA for offices and residential units, alongside culture, retail/restaurants, hotel, education, etc. The total investment amounts to approximately SEK 8 billion between 2019 and 2030”, Atrium Ljungberg writes in a press release.
Atrium Ljungberg CEO Annica Ånäs says that she is happy that the deal, the largest in the company’s history, has come so far.
“We’re looking forward to getting underway with the development of the Slakthus area. Our vision is to create an obvious meeting place and for this to be a driving force for the entire Söderort suburban area”, she adds.
Sverrir Thór