Oscar Properties: Buying block on Lilla Essingen to 920 m (Continued)
2014-12-19 14:49
(SIX) Oscar Properties has signed an agreement to acquire the block Primus 1 at Lilla Essingen in Stockholm from Vasakronan. The property has building rights of approximately 42,000 square meters BTA and the purchase price is approximately SEK 920 million. Access occurs when the current zoning change becomes final. It is clear from a press release. "Our intention is to bring in a financial partner for recovery project according to our proven model. We are already in preliminary talks with some potential partners but do not expect to formalize something cooperation until the zoning plan is laid, "says Oscar Engelbert, MD for the company. The acquisition is made with the condition that the new zoning plan becomes final force. If you look at real estate statistics, house prices in Stockholm, where the company has operations, increased every year but one since 2004 when the company was started. Since its ince ption, Oscar Properties developed and sold residential properties for approximately 4 billion and produced about 700 homes in Stockholm, through conversion or new construction. The project portfolio amounts to approximately 1,900 residential units, of which approximately 450 homes are under ongoing production. Jonathan Axelsson +46 8586163 77 mailto: jonathan.axelsson@six-group.se www.blogg.six.seSIXNews SIX News
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