Nordika divests residential building rights to HSB Uppsala after successful change of zoning plan
Nordika has divested a retail asset with new residential building rights to HSB, a cooperative association for housing. The transaction is conditional on the approval of a new zoning plan expected to gain legal force in July 2025. The transaction marks the successful execution of Nordika’s value creation strategy.
The retail property was acquired by Nordika in February 2015, based on its prime location and clear potential for future residential use. In the same year, Nordika entered into a sale agreement with HSB, conditional upon the approval of a new zoning plan permitting residential use for the property together with the adjacent site. Nordika subsequently initiated a zoning plan process and created over 16,000 square meters new residential building rights.
The transaction reflects Nordika’s strategy of pursuing defensive investments with substantial upside potential through the creation of residential building rights, while generating stable cash flow throughout the investment period from existing tenants.
