JM acquiring building rights for residential development in Vaxholm
JM has signed an agreement with Brabo Stockholm AB for the acquisition of building rights for the development of approximately 60 residential units in Rindö Hamn, Vaxholm municipality. The transaction amounts to SEK 40m.
The property being acquired is Rindö 3:395, with a detailed plan which has gained force and allows for just over 60 residential units in apartment buildings. The planning work begins immediately, and occupancy is expected to take place in 2027.
The acquisition will be reported within the business segment JM Residential Stockholm in Q4, 2024. Transfer of legal title and partial payment of SEK 10m will take place in the fourth quarter of 2024 and final payment will be made in 2025.
- Vaxholm is an attractive municipality in which JM has not been active for a very long time. We are happy about the opportunity to develop housing in the beautiful archipelago surroundings of Vaxholm, says Malin Lindskog, Regional Manager JM Stockholm North.