Nordic real estate investor NREP has announced the acquisition of Vällingby Centrum in Stockholm, Sweden from Svenska Bostäder, the City of Stockholm's municipal housing company, for €161 mln.
Vällingby Centrum forms the heart and hub of the western part of The City of Stockholm, and was inaugurated in 1954 as Sweden’s first ABC city – “Arbete – Bostad – Centrum”, meaning "Work – Living – City Centre”.
The ABC model is a community-based planning programme that was founded in Sweden in the 1950s and has since been replicated world-over, forming the basis of the more internationally known ’15-minute city’. The concept behind these suburban zones, is that they would offer its residents everything they possibly needed, serving as self-functioning communities filled with housing, employment, retail and leisure amenities, alongside important social and cultural functions too.
Vällingby Centrum comprises 76,206 m2 of space divided into six properties offering multiple uses including local necessity-driven retail, offices and a range of community services. The surrounding public spaces, including a town square, will remain under the municipality's ownership, with whom NREP intends to collaborate.
Source: propertyeu.info on the 28th of April