Peab acquires land for 40,000-sq-m development on island of Lilla Essingen

23 November 2021
Peab acquires land for 40,000-sq-m development on island of Lilla Essingen

Swedish builder Peab has signed a contract for the acquisition of part of the property “Stockholm Primus 1” on the island of Lilla Essingen in Stockholm from Oscar Properties for an underlying property value of approximately $130m (SEK 1,167 million).

The property comes with a legally binding zoning plan that allows apartment buildings, city centre activities, office buildings, a preschool, commerce and a parking garage.

It also comes with development rights for around 40,000 sq m of habitable gross floor area.

Access and payment are expected to take place during the fourth quarter of 2021.

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