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| NCC and Platzer agree on major transaction in Gårda and Mölndal  NCC and Platzer have signed an agreement to jointly develop Platzer's property on Drakegatan in Gårda (Gårda 16:17, which includes the "Canon building") through a jointly owned company. Currently, the project comprises an existing building of approximately 16,000 square meters and additional development rights for about 30,000 square meters of office space in an attractive location near the "Ullevimotet" junction.The building will form a distinct entrance to the area with a 25-storey office building that will be joined to the existing building. The transaction in Gårda will be carried out in the form of a company transaction where the parties have today agreed that NCC will acquire 50 percent of the property-owning company from Platzer when the detailed development plan gains legal force at an underlying property value of approximately SEK 300 million as well as a supplementary purchase consideration of about SEK 45 million upon completion. The parties also agreed that Platzer will repurchase NCC's 50-percent share when the property is completed. Construction is scheduled to start in the first quarter of 2018 with completion estimated for the fourth quarter of 2020. The transaction requires that the detailed development plan gains legal force. The transaction also entails that Platzer is planning to acquire future NCC's projects in central Mölndal. NCC has a prior agreement with Mölndal Municipality to acquire two central properties with estimated additional development rights for about 30, 000 square meters near the new galleria and SCA's offices. Work on the detailed development plan has begun and is scheduled to be complete in 2018. According to the agreement signed by the parties, Platzer has an option to acquire the properties upon completion. Construction of NCC's project in central Mölndal is expected to commence in the fourth quarter of 2018 and be completed in stages in 2021-2023. write your comments about the article :: © 2017 Construction News :: home page |