NPRO: NEW LEASE CONTRACT FOR DRAMMENSVEIEN 60

Norwegian Property has negotiated a lease contract with District Frogner in Oslo Municipality and The Norwegian Labour and Welfare Administration for the property Drammensveien 60 in Oslo. The contract comprise the entire property of appr. 11 000 sqm. The lease contract is subject to approval by the City Council during this autumn. Correspondingly, the lease agreement with The Norwegian Labour and Welfare Administration is subject to approval by the Ministry.

Drammensveien 60 was constructed in 1960 for Rikstrygdeverket, and was completely refurbished in 2004/2005. The property has since 2005 been fully let to Skanska, which will be leaving the property in the first half of 2017. Refurbishment and tenant fittings will start immediately thereafter. District Frogner and The Norwegian Labour and Welfare Administration will move in during the second half of 2018.

For further information, please contact:
Tore Heldrup Rasmussen, Norwegian Property, EVP Commercial, phone + 47 907 74 777

Norwegian Property is a focused and fully integrated office property company with 37 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 16.4 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

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