NCC leases premises at Västerport to IHM Business School

NCC Property Development and IHM have signed a contract concerning the leasing of 2,800 square meters of floor space at the Västerport office project in northwest Kungsholmen, Stockholm. IHM will move into its new premises in December 2008. The property has already been sold to Credit Suisse Asset Management. The lease with IHM will have a favorable impact on NCC’s earnings, which will be reported during the second quarter of 2008.

Västerport is located in the heart of Stadshagen, an expansive part of northwest Kungsholmen that is currently undergoing major changes. A total of 4,000 new housing units are being built in the area and several thousand employees will work there.

“We’re developing a modern, new 20,000-square-meter office building by the Essingeleden expressway, which offers excellent exposure. It will be a GreenBuilding-labeled property, which means energy consumption will be low and the work environment excellent,” says Magnus Widén, Regional Manager for Stockholm at NCC Property Development.

“The lease with IHM, which will use the premises as offices and for its educational activities, is proof of the flexibility of Västerport and the opportunities its offers. We’re delighted that another strong brand has decided to move to the building.”

Leases have previously been signed with Neonode, which took occupancy in early April, SATS SportsClub, which will open its new training complex in August, and Preem Petroleum, which will relocate to the premises on October 1, 2008. Approximately 55 percent of Västerport has now been leased. Leasing of the remaining premises is under way and negotiations are in progress with several interested parties.

For further information, please contact:
Magnus Widén, Regional Manager for Stockholm at NCC Property Development, +46 (0)8 5855 19 49, +46 (0)70 85 18 49
Lovisa Lagerström Lantz, Acting Press Relations Manager, NCC Group, +46 (0)8 585 523 46, +46 (0)70 592 45 46