NCC sells Østensjøveien 27 office building in Oslo (NO)

NCC has sold the office project Østensjøveien 27 in Oslo to a syndicate facilitated by RS Platou Real Estate AS and Malling & Co Eiendomskapital AS. The agreement will be implemented as a sale of the company with an underlying property value of 490 mln SEK (approx. €54 mln) and will be recognized during the fourth quarter 2013.

“The Østensjøveien 27 is a modern and sustainable project based on innovative thinking. It has been selected as one of the world’s 100 most sustainable solutions at the UN Conference on Sustainable Development”, says Carola Lavén, President of NCC Property Development.

Ø27 has a high environmental profile with both passive house standard and a planned BREEAM rating of at least Very Good. The project is located at Bryn/Helsfyr, close to the city center of Oslo and near several public transportation hubs. The interior is a spectacular open solution with offices around an open atrium, with meeting rooms hanging out in the open space. The architect of Ø27 is the famous Danish architect company Henning Larsen Architects.

The project will be completed in December 2013 and the current letting ratio amounts to 94 percent. NCC is responsible for the letting of remaining vacant space during 10 years and has provided rental guarantees for this period.

The transaction will be implemented as a sale of the company with a total underlying property value of 490 mln SEK. Transfer of ownership will take place in December 2013.

The sale will generate a positive impact on earnings during the fourth quarter 2013. The profit of the sale will be recognized in NCC Property Development.

Source: NCC

Related News