JM acquiring building rights for residential development in Brundalen, Trondheim
JM has acquired building rights for the development of approximately 130 residential units located near Trondheim city centre. The acquisition amounts to approximately SEK 86 million, with occupancy in the fourth quarter of 2023 and payment in the first quarter of 2024.
The acquisition will be reported within the JM Norway business segment in the fourth quarter of 2023.
The property has a detailed plan that has gained final approval and is judged to allow the development of approximately 130 residential units, with production expected to start in the second half year 2024. JM has previously developed 174 residential units in the area within the Strindalia project.
- The latest phase in Strindalia was completed in 2023 and it is gratifying that through this acquisition JM Norge has the opportunity to develop around another 130 residential units in the Strindalia project, says Petter Sunde, regional director JM Norge AS.