NPRO – Enters into new lease contract for Badehusgaten 37 in Stavanger

Norwegian Property has entered into a lease contract with the Telenor Eiendom Holding AS for an area of 2 552 square meters in Badehusgaten 37 in Stavanger. The lease length is 5.5 years and the tenant is expected to move in at the end of first quarter 2015. Telenor is now located in Forusbeen 35 and the rent in Badehusgaten 37 will start when the current lease term with Norwegian Property in Forusbeen 35 ends in the beginning of the fourth quarter 2015. Two lease contracts have now been entered for Badehusgaten totaling 4 320 square meters, with the addition of parking and storage.

For further information, please contact:
Olav Line, CEO, Norwegian Property, phone +47 48 25 41 49

Norwegian Property is a focused and fully integrated office property company with 39 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.7 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.