Research
Jul 2, 2019
DNB Scandinavian Property Fund has purchased Vitaminveien 4 at Storo in Oslo from Skanska Commercial Development for NOK 1 325 million. This 24 000 m2 office building is leased to the Norwegian Directorate of Health, the Sagene district, Opera Software and Evolve Business Space.Jul 2, 2019
Carucel Eiendom has called the option to acquire one-third of the equity interest in the commercial areas at Sørenga, Sørengkaia, Barcode and northern part of Bispevika, as well as the associated parking facilities at Sørenga and Munch Brygge from Madison International for approximately NOK 1 100 million. Carucel Eiendom will manage the 38 000 m2 portfolio in Bjørvika in Oslo.Jul 2, 2019
A NRP syndicate has acquired Energivegen 12 in Tananger from K2 Stavanger. The 10 000 m2 mixed use property is leased to Expro Norway with an annual rental income of around NOK 25 million.Jul 2, 2019
Ragde Eiendom has purchased Petroleumsveien 6 at Forus in Stavanger from DNB Scandinavian Property Fund. This 9 600 m2 office building is currently leased to SpareBank 1 SR-Bank and Eiendomsmegler 1 SR-Eiendom. Annual rental income is around NOK 18 million. As previously reported, SpareBank 1 SR-Bank will be moving its head office to Finansparken (Bjergsted Terasse 1) in Stavanger this autumn.Jul 2, 2019
Scala Eiendom has acquired CC Drammen (Tomtegata 36) from Niam Nordic V. The 22 600 m2 shopping centre accommodates more than 30 retail outlets.Jul 2, 2019
Steen & Strøm and Storebrand are making a complete about-turn at Økern in Oslo. They now want to build a market square and shopping streets covering 15 000 m2 in all, split between shops, restaurants and cultural provision. In addition, 2 000 homes and 117 000 m2 of commercial space for offices and hotels are planned. This represents an increase of 1 800 homes and 72 000 m2 in office and hotel space as well as a reduction of 30 000 m2 in retailing space compared with the original scheme.Jul 2, 2019
Eiendomsspar has awarded a lease covering 2 700 m2 to WeWork at Tjuvholmen allé 1–5 in Oslo. The global coworking player will be opening its first flexible workspace in Norway at the end of the fourth quarter of this year.Jul 2, 2019
DNB Næringseiendom has awarded a lease covering 4 200 m2 with WeWork at Fjordalléen 16 in Oslo’s Aker Brygge district. WeWork will be opening its second flexible workspace in Norway during the first quarter of 2020.Jul 2, 2019
Statistics Norway: The consumer price index (CPI) rose by 2.5 per cent from May 2018 to May 2019. The consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) showed an increase of 2.3 per cent over the same period.Jul 2, 2019
Norges Bank increased its base rate from 1.00 to 1.25 per cent on Thursday 20 June. The central bank envisages raising this rate once more during the year.Jun 4, 2019
OBOS Eiendom has sold Scandic Ørnen (Lars Hilles gate 18) in Bergen to Oslo Pensjonsforsikring for about NOK 800 million. This 19 000 m2 hotel property with 368 rooms is leased to Scandic Hotels Group.Jun 4, 2019
Tristan Capital Partners has acquired Tveten Park (Ole Deviks vei 2) at Bryn in Oslo from a SPG syndicate for NOK 570 million. Totalling 35 000 m2, the three office properties are leased to such tenants as Q-Park, One-Co, Profilforum and Trade Solutions. Annual rental income totals NOK 40 million.Jun 4, 2019
Samhällsbyggnadsbolaget i Norden (SBB) has acquired three portfolios comprising a total of 30 sheltered housing units in Oslo, Trondheim and Lillehammer. The portfolio is fully leased to Ambea and Ecura with a remaining term of 7.5 years. Annual rental income comes to NOK 26.9 million.Jun 4, 2019
A Malling & Co syndicate has acquired Kanalarmen 12 at Forus in Stavanger from Wenaas Kapital. This 10 600 m2 mixed-use property is leased to MRC Global and FPE Sontum on long barehouse leases. Annual rental income totals NOK 20 million. Wenaas Kapital has retained a 30 per cent interest in the syndicate.Jun 4, 2019
Aberdeen Property Balanced Fund has acquired Gjellebekkstubben 12 at Liertoppen from Harlem Foods. The latter has entered into a sale and leaseback agreement for the 7 600 m2 logistics property. The lease has a term of 15 years.
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?
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