Stena Fastigheter Gothenburg acquires SKF's historic area north of Säveån in Gothenburg. In 'District Bearing', a unique district is to be created, a district that adds, complements and strengthens the current urban development in Gamlestaden.

"We will create a vibrant neighborhood, where history coexists with a mix of homes, restaurants, shops, workplaces and parks in connection with Säveån. Here we have the opportunity to create a unique environment and feeling and it feels fantastic," says Agneta Kores, CEO of Stena Real Estate Gothenburg.

Like SKF, Stena Fastigheter has its roots and its heart in Gothenburg. Both are industrial companies that take pride in their origins and protect history. The companies are very pleased to be able to jointly develop and secure one of Gothenburg's most unique and historic factory environments.

The acquisition means that Stena Fastigheter will take the next step in the strategy of being a leading and long-term urban developer. The factory area has for several centuries breathed life, dynamics and development and that feeling will be safeguarded as the future 'District Bearing' is to be developed.

"We want to create an interesting, human neighborhood in the middle of Gothenburg. In 'District Bearing' you should be able to play with the children and have your workplace in the same area as you live. Here you can run a workout outdoors after work, go to a gallery or buy your food favorites from a local supplier. Here you should easily be able to have a chat with the neighbors over a glass of wine," says Agneta Kores.

SKF has chosen Stena Fastigheter as developer and owner of SKF's historic site, which means that both companies and the City of Gothenburg can now continue work on the detailed plan. The parties hope for an adopted detailed plan in autumn 2020 and construction starts in 2023.

As a result of the acquisition in Gamlestaden, Stena Fastigheter controls approximately 12,500 building rights for housing and approximately 40,000 square meters of commercial building rights. With its three major development areas in Gamlestaden, Masthuggskajen and Humlestaden adjacent to Änggårdsbergen in the west, the company is now strengthening its position in Gothenburg as a long-term and sustainable urban developer. In addition, a number of new productions are in progress around the country in addition to existing stocks, including at Hisingen and in western Gothenburg.

Cushman & Wakefield and CBRE served as advisers to SKF.