Contract signed for sale of cement terminal at Lövholmen to allow for future residential development
IN a move to help optimize the company’s asset structure, HeidelbergCement are to sell property located at Lövholmen in Stockholm, Sweden, to allow for residential development.
The company currently operates a cement terminal at this location, which it plans to move to an industrial zone at Värtan in Stockholm.
A sales contract has been signed between HeidelbergCement and a consortium of Järntorget Byggintressenter AB and Besqab AB, both of whom are active in the holding and development of real estate.
The agreed minimum price of the property amounts to around €115 million and the closing of the deal, which is subject to several conditions, including the adoption of development plans for both Lövholmen and Värtan land areas, is expected in late 2017 at the earliest.
‘The disposal is part of our long-term strategy for value creation and realization from our significant worldwide real estate,’ commented Dr Bernd Scheifele, chairman of the managing board of HeidelbergCement.