NCC sells office and retail property in Copenhagen

NCC has sold a high street property containing retail and office space in Lyngby, a suburb of Copenhagen, for SEK 155 million. The buyer is the publicly listed real estate company Patrizia Immobilien AG. Transfer of ownership took place when the contract was signed on March 28, 2014 and the sale will have a marginal impact on earnings in the first quarter of 2014.

“It is gratifying to see that the properties we develop generate a healthy sales value and that we can find solid investors, despite the current market conditions for retail property in Denmark being continuously difficult,” says Carola Lavén, Business Area Manager, NCC Property Development.

The property in Lyngby is fully leased to clothing stores, Bonde Boutique, Friluftsland, Café Baresso and the restaurant Meyers Spisehus. The property also contains fully leased office premises. Lyngby Hovedgade is one of the busiest shopping streets in Denmark. The property comprises 2,300 square meters of retail and office space and was completed in 2012.

Transfer of ownership took place when the contract was signed on March 28, 2014. The buyer is Patrizia Immobilien AG. The sale will have a marginal impact on earnings during the first quarter of 2014 and will be recognized in profit in the NCC Property Development business area.

For further information, please contact:

Carola Lavén, Business Area Manager, NCC Property Development

Phone +46 8 585 516 74

NCC’s media line +46 (0)8 585 519 00, E-mail: press@ncc.se, NCC’s Image bank

All of NCC’s press releases are available on www.ncc.se/press.

NCC is one of the leading construction and property development companies in the Nordic region. In 2013, NCC reported sales of SEK 58 billion and had 18,500 employees. NCC Property Development develops and sells commercial properties.

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