Oscar Properties Divests Develop Rights for SEK 1.2 Billion to Peab

Image: Peab

Oscar Properties Divests Develop Rights for SEK 1.2 Billion to Peab

Sweden — Peab has signed a contract for the acquisition of part of the property Stockholm Primus 1 on Lilla Essingen in Stockholm from Oscar Properties for an underlying property value of SEK 1,167 million. The property comes with a legally binding zoning plan that allows apartment buildings, city center activities, office buildings, a preschool, commerce and a parking garage.

2021-11-22

The acquired portion of the property on Lilla Essingen in Stockholm comes with development rights for around 40,000 habitable GFA (gross area). Here Peab will develop new city boroughs and incorporate the qualities already in place.

“As community builders the opportunity to develop such a central part of the city as Lilla Essingen is really interesting. Thanks to the strength of our four business areas we will be able to cohesively develop this property. Being able to enrich an area this way on our own is right in line with the Peab Group’s strategy,” says Göran Linder, BA Manager Project Development in Peab.

Access and payment are expected to take place during the fourth quarter of 2021.

Anthon Näsström

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