The property comprises a number of office buildings of a total of approximately 26,000 m2 letting area. JM will work towards ensuring that a new detailed development plan is prepared with the aim of developing 500-600 residences within the property. Racketen 10 is located by the water and a large part of the new residences will have a sea view across the Essinge islands and Kungsholmen.

The property is located within the programme area of Alvik, where the City of Stockholm aims to develop the district with approximately 3,000 new residences. The vision for Alvik is to unite the city centre's pulse with the greenery of the suburb.

“I am thrilled that we have succeeded in acquiring yet another property in one of Stockholm's most attractive locations close to the water, good transportation and the city centre. We envisage very good opportunities to develop an area with fantastic qualities for our customers,” says Mikael Åslund, Regional Manager at JM Stockholm City Region.