NPRO – Extends lease contract in Drammensveien 60, Oslo

Norwegian Property has extended the existing lease contract with Skanska Norge AS for the whole building in Drammensveien 60 until 28 February 2017 (previous expiry was 31 August 2015). In the extension period the gross rent increases by in excess of 17 per cent compared to the existing contract. The extension is agreed upon "as-is" terms, i.e. no investment obligations for the lessor.

Drammensveien 60 is an attractive property with a good location close to Aker Brygge and Solli plass in Oslo West. The property was completely refurbished in 2005 and comprises a total space of 10 873 square meters with the addition of indoor and outdoor parking space. Skanska occupies the whole building.


For further information, contact:

Olav Line, CEO, phone +47 48 25 41 49
Aili Klami, Director customer relations and aftersales, phone +47 95 26 45 55

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Norwegian Property is a focused and fully integrated office property company with 41 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 15.2 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.

www.npro.no