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MAGNUSSON FINALISES ONE OF SWEDEN'S LARGEST REAL ESTATE LAWSUITS

2019-05-03

The case concerned the termination of a site leasehold right concerning Berg's oil port located in Nacka. Oil depot activities have been conducted on the property since 1959. Nacka municipality has during the last twenty years planned to create a denser and more mixed urban development on western Sickla island, where the property is located.

The plan includes, inter alia, the construction of 13 500 homes. Magnusson has assisted the municipality since 2014.

After many years of negotiation, the municipality and Circle K have concluded an agreement that ensures both Nacka's ambitions to build housing and Circle K's ability to secure Mälardalen's supply of liquid fuel.

The agreement dictates that Circle K's site leasehold right expires on December 31, 2018, and is replaced by a lease agreement. The lease agreement entails that Circle K will be operating on Berg's fuel depot until December 31, 2036. However, during the last three years, the business will be focused on settlement and restoration of the property.

The case has mainly been handled by Mårten Tagaeus and Erik Svedlund at Magnusson's Gothenburg office.

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