Research
Mar 10, 2020
Ferd Eiendom has acquired the 8.5-hectare site at Bjørnstjerne Bjørnsons plass 1 in Marienlyst, Oslo, from the Norwegian Broadcasting Corporation (NRK). The final purchase price will depend on the outcome of the planning process, but will be at least NOK 3.75 billion. NRK is eventually due to relocate, and Ferd plans to redevelop the property to provide about 1 200 new housing units.Mar 10, 2020
Citycon has purchased Partners Group’s 80 per cent stake in a retail portfolio comprising Stovner Senter in Oslo, Torvbyen in Fredrikstad and Markedet in Haugesund. Worth about NOK 1.5 billion, the transaction means that Citycon is now sole owner of the 66 900 m2 portfolio.Mar 10, 2020
Following the portfolio transaction, Citycon decided to sell Markedet (Skåregata 92) in Haugesund to Caiano Eiendom for NOK 120 million. This 10 600 m2 shopping centre is leased to 23 stores.Mar 10, 2020
A club deal arranged by Clarksons Platou has acquired Kokstadflaten 35 in Bergen from the Odfjell family. The 24 200 m2 office building is leased to Odfjell Drilling. Odfjell has taken a 33 per cent share in the deal and will continue to administer the property.Mar 10, 2020
Tre Kronor Property Investment has acquired a retail portfolio distributed around Norway from UNION Real Estate Fund II. Totalling 11 008 m2, the portfolio comprises six properties leased to Norgesgruppen, Bunnpris and Norsk Butikkdrift among others. Annual rental income is NOK 15.1 million.Mar 10, 2020
Promenaden Management has awarded a lease to Chanel at Nedre Slottsgate 10 in central Oslo. The fashion store will occupy three stories and is due to move in during 2021.Mar 10, 2020
Norwegian Property has awarded BNP Paribas a 10-year lease covering 2 700 m2 in Støperigata 2 at Aker Brygge in Oslo. This 13 000 m2 office building is thereby fully occupied.Mar 10, 2020
Statistics Norway: The consumer price index (CPI) rose by 1.8 per cent from January 2019 to January 2020. The consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by 2.9 per cent over the same period.Mar 10, 2020
UNION’s bank survey for the first quarter of 2020 shows an average bank margin of 203 basis points for new five-year loans with 65 per cent loan-to-value. That is one bp down from the previous quarter and 10 bps below the level a year ago.Mar 10, 2020
UNION: Office vacancy in Oslo is 5.6 per cent in the first quarter of 2020, up by 0.3 percentage points over the past six months but down by 0.1 percentage points from the same time last year.Mar 10, 2020
UNION’s coworking survey from January 2020 shows an occupancy rate of 64 per cent in Oslo. That represents an increase of one percentage point since the previous survey in August 2019. The number of flexible workplaces has risen by 23 per cent over the past year. More than 135 000 m2 of such space is currently provided in around 90 centres.Jan 29, 2020
Samhällsbyggnadsbolaget i Norden (SBB) has acquired 91.2 per cent of Hemfosa Fastigheter. This portfolio includes 51 properties in Norway, which had a combined estimated value of SEK 9.6 billion in the third quarter of 2019.Jan 29, 2020
Storebrand Eiendomsfond Norge KS has acquired Scandic Helsfyr (Innspurten 7) in Oslo from Eiendomsspar for NOK 1.1 billion. Currently being refurbished, this hotel will be expanded from 253 to 450 rooms and is leased to Scandic Hotels until 2037.Jan 29, 2020
A club deal arranged by Njord Securities, Kraft Finans and Njord Kapitalforvaltning has purchased Anton Jenssens gate 2 in Tønsberg from private investors for about NOK 600 million. This 20 000 m2 property is leased to such tenants as Vestfold Hospital, Bufetat, Tenden Advokatfirma and Coop. Rental income for 2020 is NOK 35.4 million.Jan 29, 2020
Solon Eiendom has acquired all the shares in Kruse Smith Eiendom for NOK 608 million. It thereby takes over 660 homes under construction and a land bank with opportunities for building 2 500 more. These sites are located in Oslo, Bergen, Stavanger, Sandnes and Kristiansand.
UNION Market Report Autumn 2019
UNION's head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of October 2019.
Back to the grindstone
UNION launches autumn's market report on the Norwegian commercial property market.
Market Report Spring 2019
UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of April 2019.
Preparing for a soft landing
Robert Nystad, Head of research UNION Gruppen
Market Report Autumn 2018
UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of October 2018.
It’s the supply side, stupid
Gyms, restaurants and retailers managed it. Providers of flexible office space – or coworking – are also pretty certain to succeed in building more than enough capacity.
Market Report Spring 2018
UNION's head of research Jo W Gullhaugen gives a brief overview of the Norwegian commercial property market as of March 2018.
Market Report Autumn 2017
UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of October 2017.
Market Report Fall 2016
Towards full capacity in the Oslo rental market?
Prime yield of 3.9 percent – how is secondary property affected?
UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of October 2016.
Strong return for Norwegian real estate in 2015
The IPD Norway Property Index returned 11 percent in 2015, of which income return contributed 5.3 percent. The index measures unlevered total returns to directly held properties.
Market Report in 5 minutes
What are the vacancy rates, rent levels and prime yield in the Norwegian commercial real estate market? Read about new construction, valuation estimates and market trends across four major commercial real estate sectors and Norway's four largest ci ties. UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of March 2016.
Pension Funds’ investment in commercial property
There is growing interest in Norwegian commercial property among Norwegian and international pension companies. The transaction market has never been stronger. How will current and future frameworks affect pension funds’ investment in property?
Office Market in Balance?
Since 2002, housing prices in Oslo have increased by 133 percent, while the value of office buildings has risen by 50 percent. The office rental market appears to be accommodating Oslo’s new residents much more effectively than the housing market.
Psychological Drivers Behind the Choice of Office Premises
When renting office space, the most important factors influencing the choice of premises are often price and functionality. However, there are also some psychological factors behind the assessment of office premises.
Can Bjørvika Challenge the CBD in Oslo?
Bjørvika is growing slowly but surely into a new major office hub in the area around Oslo Central Station. Many attractive tenants have moved in beside established and future cultural institutions such as the Oslo Opera House, Munch Museum and Oslo Public Library. Is Bjørvika in the process of becoming a genuine challenger to the CBD as Norway’s most attractive office area?Snapshot of Oslo’s Commercial Real Estate Market
UNION is one of Norway's most trusted sources for property and market intelligence. Watch our 3 minutes long video presentation of Oslo’s Commercial Real Estate Market.
5 Reasons to Look to Norway
Despite the falling oil prices and decrease in office rents, the commercial real estate transaction market has been booming this year. Foreign investment into Norwegian real estate has been increasing rapidly in 2015, counting 50 percent of the total market volume. What key features attract foreign investors?
- Privacy
- Copyright © 2020