NPRO: Agreement on acquisition of property in Oslo inner city No
Norwegian Property has entered into an agreement to purchase the property Lille Grensen 7.
NPRO will purchase all shares in Grensen Investment AS, which is the owner of 100% of the shares in Lille Grensen 7 AS. The agreed gross value for the property is MNOK 710. Takeover is estimated to take place on 17 December 2019.
The property is located centrally in Oslo Inner City, next to Karl Johan Street, and with a view to the Norwegian Parliament building, Stortinget. It is situated next to the subway station.
CEO, Bent Oustad, comments: “We are very satisfied with the acquisition of Lille Grensen 7, which will ensure us control of an amazing property, centrally located in Oslo, with immediate proximity to the subway. The building has a good mix of tenants which operate within interesting industries. A small area is vacant and represent a development opportunity for us. The acquisition is in line with NPRO’s ambitions to grow in our core areas. During several years at Aker Brygge, our company has built a high competence in running properties with a mix of offices and retail. We will exploit this knowledge further at Lille Grensen 7.”
For further information, please contact:
Norwegian Property ASA
Bent Oustad, CEO
Phone +47 48016082
Haavard Rønning, CFO
Phone +47 400 200 19
Norwegian Property is a focused and fully integrated office property company with properties located in the Oslo area and Stavanger in Norway. The portfolio 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.