Arctic Securities acquires €31m office project in Norway

Nordic construction group NCC has sold an office project in Lysaker in Norway to Arctic Securities for just over €31 mln.

The development, known as PP11, is situated in a well-established office district outside Oslo, where NCC is currently developing more office projects. It provides around 6,600 m2 of leasable space and 60 parking spaces.

The scheme will house the new headquarters for Norwegian group Nemko, which occupies 5,000 m2. It is 76% pre-let.

As part of the transaction, NCC is providing a rental guarantee of a maximum of five years.


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