Sep 4, 2019An Arctic Securities club deal has acquired Kongsberg Teknologipark (Kirkegårdsveien 45) from H.I.G Capital, Blackstone and Oslo Pensjonsforsikring for a total of NOK 3.1 billion. This 175 000 m2 portfolio has a rental income of about NOK 250 million and is leased to 50 companies.
Sep 4, 2019UNION Real Estate Fund II has acquired the Valle Wood and Valle View office buildings at Helsfyr from NCC Property Development. Valle Wood covers 7 700 m2 and is currently being completed, while Valle View will be 23 000 m2 and have the Norwegian Directorate of Immigration (UDI) as its largest tenant when it is completed in 2021. The transaction also includes a development site with planning permission for 27 000 m2 of offices and a parking facility with space for 220 cars. Pareto Securities has arranged the transaction, which totals NOK 1.83 billion.
Sep 4, 2019Ragde Eiendom has acquired four retail properties and two sites from Tristan Capital for about NOK 1.55 billion. The 100 000 m2 retail portfolio is located in Arendal, Ålesund, Sarpsborg and Grenland, and leased to such tenants as Tesla, Coop, Power, XXL and Biltema with an average lease duration of eight years. The sites are located at Tangerud in Oslo and in Grenland.
Sep 4, 2019A NRP Finans club deal has acquired the Jærhagen shopping centre (Solavegen 25) in Klepp local authority from Coop Klepp and Dolphin Eiendom for about NOK 1 billion. This 57 000 m2 property has a rental income of NOK 65 million and is leased to such tenants as Coop, Power, Elkjøp, Sport Outlet and Møller Bil.
Sep 4, 2019A DNB Markets club deal has acquired Vinkelgården (Kirkeveien 59) at Majorstuen in Oslo from Nordea Liv for NOK 375 million. This 2 135 m2 property is leased to DNB Bank.
Sep 4, 2019Arealstatistikk: The average level of rents for signed leases in Oslo was NOK 2 410/m2 for the second quarter of 2019. This represented an eight per cent increase from the first quarter of 2019. The four-quarter rolling average is up by two per cent from the first quarter and six per cent from the same quarter of 2018.
Sep 4, 2019Norges Bank decided to keep its base rate at 1.25 per cent at its rate-setting meeting on Thursday 22 August. According to the central bank, new information acquired indicates overall that the short-term outlook for interest rates has changed little since the previous meeting, but that the international risk picture poses greater uncertainty.
Sep 4, 2019Statistics Norway: The consumer price index (CPI) rose by 1.9 per cent from July 2018 to July 2019. The consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) rose by 2.2 per cent in the same period.
Sep 4, 2019Statistics Norway: Unemployment was 3.6 per cent in June after an 0.1 percentage point increase from March, according to seasonally adjusted figures from the labour force survey (AKU). Employment rose by 4 000 people over the same period.
Jul 2, 2019DNB 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, 2019Carucel 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, 2019A 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, 2019Ragde 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, 2019Scala 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, 2019Steen & 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.
Market Report Spring 2019UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of April 2019.
Preparing for a soft landingRobert Nystad, Head of research UNION Gruppen
Market Report Autumn 2018UNION'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, stupidGyms, 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 2018UNION's head of research Jo W Gullhaugen gives a brief overview of the Norwegian commercial property market as of March 2018.
Market Report Autumn 2017UNION'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 2016Towards 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 2015The 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 minutesWhat 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 propertyThere 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 PremisesWhen 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 MarketUNION 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 NorwayDespite 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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