NCC sells Falcon Business Park Tinnu, Helsinki, Finland, for SEK 237 million

NCC Property Development Oy has sold the second phase of the Falcon Business Park property in Finland, with September 30 as the takeover date. The purchaser is Aberdeen Nordic Fund I SICAV (Aberdeen) and the purchase consideration is SEK 237 million. The gain on the sale will be recognized in profit during the third quarter of 2008.

Falcon Business Park is located in Otaniemi, Espoo, and comprises a total of four properties. Falcon Tinnu is the second phase to be completed at Falcon Business Park and currently approximately 85 percent of the property has been leased. In total, Falcon Tinnu consists of 6,350 square meters of floor area, including 160 parking spaces, and the property was completed in September 2008. NCC is responsible for leasing the vacant floor space for a maximum period of three years, or until all of the vacant space has been leased. Compensation payable under the rental guarantee will not exceed one year of leasing revenues for the unleased floor space.

NCC sold the first phase, Falcon Hali, which is currently virtually completely leased, to Aberdeen in June 2007. The two remaining phases are encompassed by a framework agreement with Aberdeen, with construction of the third phase, Falcon Lago, commencing in June 2008.

– Interest in premises at Falcon Business Park is considerable, with tenants including Janssen-Cilag, Mercuri-international and Indcrea, says Tapio Rantanen, Regional Manager for Espoo/Vantaa within NCC Property Development.

For further information, please contact:
Tapio Rantanen, Unit Director, NCC Property Development Oy, +358 050 516 5292 or
Jorma Ahokas, Managing Director, NCC Property Development Oy, +358 50 67390
Lovisa Lagerström Lantz, Acting Press Relations Manager, NCC Group, +46 (0)8 585 523 46, +46 (0)70 592 45 46

About Us

About NCC Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading companies in the Nordics within construction, infrastructure and property development, with sales of SEK 55 billion and 17,800 employees in 2017. The NCC share is listed on NASDAQ Stockholm.

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