NCC is divesting the Albatross logistics project in Arendal to Barings for an agreed property value of approximately €51.2m (SEK 530m). Albatross is the fifth and final stage of Arendal Green Park at the Port of Gothenburg, where NCC is developing an approximately 34,000m² logistics building.
“Arendal is in a prime location, which will be strategically important to us due to its close proximity to both the largest port in the Nordics and local highway network. We are delighted to be able to again cooperate with NCC, this time in the construction of our logistics building”, said Gunther Deutsch, Head of Transactions Europe and Managing Director at Barings.
Arendal’s location adjacent to the Port of Gothenburg and alongside highway 155 makes it one of Sweden’s best locations logistically. NCC has developed a number of logistics projects in Arendal in partnership with, among others, ICA Fastigheter and Eliasson & Lund. Albatross is the fifth stage. Work is currently underway on a new detailed development plan for additional development rights on adjacent land owned by NCC in Arendal.
“We are seeing increased interest in logistics properties in pace with a growing online retail sector, and Barings’ choice of Arendal confirms the area’s attractiveness,” said Joachim Holmber, Head of NCC Property Development.
The project will be carried out in the NCC Property Development business area and the contract will be conducted by NCC Building Sweden and registered in the order book in the second quarter of 2022. NCC aims to minimize the project’s environmental impact and to certify the property under the BREEAM international environmental certification system, with an Excellent classification.
