The properties in question are the completed Lidingö Tryckregulatorn 2 and Täby Spaken 1 properties, and the Sundbyberg Lådmakaren 4 property. Production on the properties started in Q2 2019. The properties have been included in large development areas, where JM has taken care of the residential projects. A total of 376 residential units will be sold. The sale of Lidingö Tryckregulatorn 2 and Täby Spaken 1 will be reported within the JM Property Development business segment during Q3 2019 with a gain of SEK 170 million.
Occupancy of Lidingö Tryckregulatorn 2 and Täby Spaken 1 will take place in Q3 2019, while occupancy of Sundbyberg Lådmakaren 4 is planned for Q2 2022. Approximately two-thirds of the purchase price will be paid in Q3 2019. The remaining amount will be paid at occupancy of the Sundbyberg Lådmakaren 4 property. Revenue and profit/loss will be gradually reported for Sundbyberg Lådmakaren 4 during the project’s implementation, within the JM Property Development business segment.
“We view the strong market as a good opportunity to sell some of the rental properties we have developed on our own land. Over the past few years, JM has built up and developed a large rental unit portfolio. The volume has reached a point now that it is time to sell some of the properties. JM aims to develop at least two rental unit projects every year, and we will continue to pursue this goal in the future as well,” says Pär Vennerström, business unit manager JM Property Development.