NPRO: NEW LEASE CONTRACT FOR DRAMMENSVEIEN 60 APPROVED BY THE CITY COUNCIL

NPRO announced on 24 August 2016 that a lease contract had been negotiated with District Frogner in Oslo Municipality and The Norwegian Labour and Welfare Administration for the property Drammensveien 60 in Oslo. The contract comprises the entire property of appr. 11 000 sqm. The announcement said that the lease contract negotiated with District Frogner in Oslo Municipality was subject to approval by the City Council during this autumn.

The City Council approved the contract during its meeting on 26 October 2016.

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 32 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.0 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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