Serneke develops Norra Kajen in Sundsvall alongside Magnolia Bostad – agreement for 319 new apartments in place
Serneke has entered into an agreement with Magnolia Bostad to construct 319 apartments at Norra Kajen in Sundsvall. The order is valued at approximately SEK 370 million.
The turnkey contract encompasses new construction of 319 apartments on two urban blocks, with a parking structure beneath them. The blocks form part of Magnolia Bostad’s plans to develop the western part of the Norra Kajen area in Sundsvall.
“Serneke and Magnolia Bostad have collaborated productively for some time It feels highly inspiring to continue with this, now also in Sundsvall, joining Magnolia Bostad in having the opportunity to develop a new and attractive part of the city,” says Mikael Thorgren, Regional Manager at Serneke.
“We are looking forward very much to working with Serneke on the construction of this first phase of our project in the western part of Norra Kajen in Sundsvall. We will be helping transform historic industrial land into an attractive part of the inner city,” says Björn Bergman, Regional Manager East at Magnolia Bostad.
Construction is scheduled to commence in the autumn of 2020, with the apartments scheduled for completion by the end of 2022. The project is conditional on building permits being granted, which is expected in the summer of 2020.
The order value of approximately SEK 370 million is expected to be included in order bookings for the third quarter of 2020.
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Interim report January-June 2020
HISTORICALLY STRONG ORDER BACKLOG
Serneke received consent from the bondholders in the written procedure to amend the terms and conditions and extend the maturity of its senior unsecured bonds 2018/2021
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