AF Gruppen ASA

AF Gruppen acquires development rights in central Gothenburg

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AF Gruppen is acquiring the former office building of the old Eriksberg shipyard on Celsiusgatan in Gothenburg. The property is being sold by the municipally-owned development company Älvstranden Utveckling AB.

The acquisition also includes associated development rights in relation to Östra Eriksbergsgatan, where AF Projektutveckling is planning the new construction of a further approx. 30 apartments, retail premises and car parking.

The purchase price for the development rights is SEK 101 million. The detailed plan is expected to be finalised in 2018.

“Our plan is to convert the fine old brick building, measuring around 8,000 m2, into just over 100 attractive apartments. The detailed plan allows for construction on three floors, all of which have fantastic views of the water,” says Andreas Rydbo, CEO of AF Gruppen Sverige.

“With the acquisition of these attractive development rights, AF Gruppen is continuing to demonstrate that we have the ability and the desire to contribute to the development of Gothenburg's new city centre,” says Bård Frydenlund, EVP Sweden at AF Gruppen.

Last year, AF Gruppen entered into an agreement to develop a large construction project situated on the centrally located Skeppsbron, which will be Gothenburg's new quayside meeting place by the Göta River.

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AF Gruppen ASA
AF Gruppen ASA
Innspurten 15
0603 Oslo

+47 22 89 11 00https://afgruppen.com

AF Gruppen is a leading contracting and industrial group. The purpose of our business is to create value for our customers, owners, employees and society at large. We are proud of our good financial results, but every bit as important are the non-financial values that we create every day. A safe working environment for our employees and sub-contractor personnel, new services that help solve society’s environmental challenges and ethical business operations that create security for our customers. This in turn provides us with the opportunity to create additional value for our owners.

www.afgruppen.com

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