The letter of intent means that the City of Stockholm and Wallenstam will jointly work for a conveyance of the market hall through a purchase agreement and that Wallenstam will be given the exclusive right to negotiate with the City about the purchase up to and including February 1, 2021. The next step after the letter of intent is to conclude the agreement and sign a contract, the ambition is to do so during January 2021.

“It is a fine property and in this way we want to help the City of Stockholm to find a sustainable continued use of the building,” says Hans Wallenstam, CEO of Wallenstam. 

“We see different possible uses and locations for a reuse of the building. However, we cannot say today where and how it will be used in the future since this also requires its own process and will ultimately become a building permit issue,” says Hans Wallenstam, CEO of Wallenstam. 

“It is very gratifying from both a sustainability and taxpayer perspective that we have been able to make this agreement with Wallenstam AB, a serious player in the property sector. This building will in time get a new use, and the work on restoring Östermalmstorg can begin,” says Dennis Wedin, Vice Mayor for Housing and Real Estate in the City of Stockholm.