The acquisition amounts to approximately SEK 160 million, with occupancy and payment in the third quarter of 2022.

The acquisition, which is part of the property Olskroken 18:7 at Gamlestadens fabriker, will be reported within the JM Residential Sweden business segment in the third quarter of 2022.

Gamlestaden is being developed into an attractive district with new residential units, city shopping and services. The new construction will be integrated with the old, and Gamlestaden will be part of Gothenburg’s expanding inner city. Based on the approved detailed plan, it is estimated that the acquisition will allow for the development of approximately 330 residential units, with production start of the first phase expected in 2023.

“We look forward to contributing to the development of Gamlestaden, an interesting district with a rich history and an exciting future. Located close to the heart of Gothenburg and with good transportation options, the area offers excellent opportunities to develop attractive residential units,” says Henrik Orrsjö, Regional Manager, JM Residential Sweden, West Region.