NPRO: CANCELLATION OF LAND LEASES AT GARDERMOEN AT THE EXPIRATION OF RENTAL CONTRACT
Norwegian Property ASA has entered into an agreement with Avinor on the cancellation of land leases at Gardermoen. The cancellation will take place as of December 2019, upon expiry of the lease with our tenant SAS. Avinor will simultaneously aquire the buildings on the sites. Norwegian Property will retain rental income and operating responsibility for the properties until this time. Gross property values are agreed in excess of NOK 40 million at takeover date. Annual rental income (2018) for the properties is approximately NOK 30 million. The total nominal value of rental income (