The lead operator inside the residential development in the region of Stockholm, SSM Holding AB has carried on expanding their operations. The business has acquired a project in the Municipality of Stockholm. This new project could see the development of 260 cooperative apartments. SSM aim to deliver attractive and affordable homes with attractive common areas that are close to public transport that will appeal to future urbanites. The business aims to make their properties accessible to as many different people as possible and intends to create properties, of which 60% will be allocated to cooperative apartments, 30% are rental units, and 10% are made into student housing.
SSM has acquired a building that is located near public transport which includes the subway, commuter trains and buses. The plan for this building is a completely cooperative apartment project. This project would cover around 24,000 sq. m. of BUA. SSM wants to develop this space into 260 apartments. It is thought that this project will be completely managed by SSM. The construction on this newly acquired project is expected to start in 2018. The apartments are expected to become occupied in 2020.
The purchase price of this project has been recorded as 500 MSEK. It is thought that the project has been acquired with set conditions, and these conditions will be lifted during the second quarter of 2017.
SSM normally target a customer group that are looking for functional and space-efficient homes located in central areas. Therefore, this new building with the good transport links should be able to appeal to SSM normal customer base. The project will also meet the requirement of being space-efficient and will stand to be a really valuable addition to the SSM portfolio.
After this most recent acquisition in Stockholm it has been estimated that SSM the main operator of residential development in Stockholm will have around 5,800 buildings rights that are in either the planning or construction phase of development.