NCC sells Finnish property project for about SEK 200 million

NCC Property Development is selling the third phase of Tulli Business Park in Tampere, Finland, to UBS (Union Bank of Switzerland) for the purchaser’s UBS (D) Euroinvest Immobilien fund for approximately SEK 200 million. The sale will generate a favorable impact on earnings, which will be reported during the fourth quarter of 2008.

NCC Tulli Business Park comprises four buildings consisting of 35,000 square meters of floor area and nearly 20,000 square meters of leasable floor space. When completed in full in summer 2009, Tulli Business Park will comprise about 1,000 workplaces, considerable service activities and 350 parking spaces. The sale of Phase 3 is in line with the previously signed framework agreement, which was disclosed on July 9, 2007, in connection with the sale of Phases 1 and 2. A framework agreement has been signed with the same purchaser concerning the sale of the remaining phase.

The first phase (Building A) became ready for occupancy in spring 2008 and the second phase (Building B) is scheduled for completion in August 2008. The phase that is now being sold (Building C) is scheduled for completion in December 2008 and approximately 87 percent of the floor space is currently leased. Leases have been concluded with such tenants as Intrum Justitia, Logia Software Oy and NCC Rakennus Oy.

– Interest in premises in NCC Business Parks is considerable, mainly because they are designed with a focus on the well-being of employees for companies that use this capability as a competitive tool for recruiting the future employees, says Tero Estovirta, NCC Property Development in Finland.

Tulli Business Park is located in central Tampere, close to the railway station, the university and Tampere Hall. NCC has worked on the development of the Tulli area for several years, in cooperation with the City of Tampere and other players. The architect for the project is Helamaa & Heiskanen.

For further information, please contact:
Annica Gerentz, Senior vice President Corporate Communication, NCC Group, +46 (0)8 585 522 04