Serneke and Midroc to develop new district together with the municipality of Trelleborg

Serneke and Midroc has acquired two beachfront properties in Western Trelleborg in order to develop the new district, which have the working title Västra Sjöstaden, together with the municipality.

"This will mean a lot to us. Through the development of the new neighborhood Trelleborg will get many new homes with seaview that can attract new residents. At the same time we connect the city closer to the sea", says Torbjörn Karlsson, Mayor of Trelleborg. "The citizens of Trelleborg also get new venues, including a new sea front promenade and hopefully even a brand new sandy beach".

"With this project we are establishing Serneke in Trelleborg, a city with a great location, nice environment and good transport links," says Ola Serneke, CEO of Serneke Group. "The development of the new district will increase attractiveness further".

"This is an exciting venture and a fantastic opportunity. Trelleborg has great potential with fine coastal settings in a growth region", says Magnus Skiöld, Chairman of Midroc. "The development area is of significant size, so it is an advantage that we have several players who can develop the field jointly".

As the next step, the process of creating a detailed development plan will start, hopefully as early as 2018. The first plan is expected to be completed in 2020. Subsequently, development work is started, enabling it to start construction of the first housing in 2021/2022 with move-in in 2023/2024.

Facts

Serneke and Midroc has through a common joint venture company, where the parties possess half each, signed a letter of intent with Trelleborg municipality concerning the development of a new district in Trelleborg, with the working title Västra Sjöstaden.

The company has recently acquired the properties Masten 6 and Bogsprötet 3 in Trelleborg.

The fair ground area amounts to 56 000 square meters.

The sellers of the properties is Pergo AB.