Norwegian Property settles acquisition of Grev Wedels Plass 9 (NO)

Norwegian Property ASA has signed the final contract with Astrup Fearnley AS for the acquisition of Grev Wedels Plass 9 in Oslo. The final acquisition price was €93.43 million after tax. The property has a total area of 28.299 m², including a small property in Skippergaten 3, and includes 162 parking-spaces.

With a total area of some 28,000 m², this building houses such tenants as the Astrup Fearnley Museum of Modern Art, business daily Dagens Næringsliv and several Astrup Fearnley companies.

The leases have an average remaining term of about seven years, and the building is fully occupied.
Gross rent is €5.5 million, implying a net yield of 5,6 percent. The vacancy rate is 0 percent.
The property will be transferred to Norwegian Property ASA on 31 August.

Source: Norwegian Property

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