JM acquired the properties in 2010 and has had an ongoing dialogue with the City of Stockholm about the possibilities for developing residential units in the area. Since the assessment has been made that no such development will be granted at Brommaplan in the near future, JM has decided to sell the properties to an actor who, within its operations, has better opportunities to develop the properties under the current conditions.

The transaction will take the form of a corporate sale with a total underlying property value of SEK 283 million (approximately EUR 24.3 million), resulting in a loss of SEK -15 million (approximately EUR 1.29 million), which will burden the JM Residential Stockholm business segment in Q3 2023 with a corresponding impairment. Transfer of legal title and payment will occur in Q4 2023.

“It is gratifying and positive for Bromma that the properties at Brommaplan will be taken over by an actor with good conditions to continue the development of the area,” says Jon Vidar Semb-Josefson, Regional Manager of JM Residential Stockholm.