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JM Acquires Property at Brommaplan in Stockholm



  

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Wednesday, 08 June 2011
Property Company, JM is purchasing the property Pundet 1 at Brommaplan in Stockholm from Pandox AB.
The property, which today houses Hotel Scandic Bromma, has a leasable area of 6,100 square meters. The deal amounts to SEK 125 million, of which SEK 27 million comprises a deferred tax liability. Possession and payment will take place at the end of June.

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“This is an important piece of the puzzle for the renewal of Brommaplan,” says Zdravko Markovski, business unit manager at JM.
In December 2010 JM acquired two properties at Brommaplan with the aim of taking part in the development of a total solution for Brommaplan. JM plans to build a total of about 600 residential units and 14,000 m2for services and retail premises here. Construction on the new project is planned to begin in 2013 with occupancy beginning in 2016.
Source: Based on a press release circulated by Cisionwire


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