NPRO – Enters into new lease contract at Aker Brygge

Norwegian Property has entered into a lease contract with Google Norway AS for an area of approximately 2 500 square meters of offices in Kaibygning I (previously Stranden 5) at Aker Brygge in Oslo. The lease length is in excess of 5 years and the tenant is expected to move in March/April 2015. The rent is agreed on market terms and reflects both the attractiveness of Aker Brygge and the standard of the office space. 

The property Kaibygning I (Stranden 5) will be completely refurbished and the project will be completed during the first quarter 2015. Total space for Kaibygning I is 30 800 square meters. Total letting ratio is currently 91 per cent, and remaining space to be let include only approximately 600 square meters of offices in addition to some smaller retail and storage spaces.

For further information, please contact:
Olav Line, CEO, Norwegian Property, phone +47 48 25 41 49

Norwegian Property is a focused and fully integrated office property company with 39 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.7 billion, is characterized by central location and attractive premises high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.

Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.