NCC sells office building in Espoo

NCC has sold the fifth and last office building of the Alberga Business Park to OP-Vuokratuotto Special Investment Fund.

– The last phase of Alberga Business Park rounds off the construction of an entire commercial property consisting of five office blocks in Leppävaara. Alberga offers modern and dynamic office space at an excellent location, right next to the railway station and versatile services. It’s great that OP-Vuokratuotto continues to invest in the property which is located in one of the liveliest and constantly evolving centres for business life in the metropolitan area, Head of NCC Property Development Finland Petri Bergström says.

Alberga Business Park Building E comprises approximately 5,600 square metres of leasable office space and approximately 130 parking rights. The building was completed in September 2017. Alberga Business Park Building E and its part of Alberga Parking shares are transferred as a sale of shares with the total approximate value of € 23.6 million. At the moment of concluding the sale, the occupancy rate is 51 percent. NCC will provide rental guarantees for the vacant premises for 18 months.

- The deal signed today will double our space offering at Alberga Business Park, enhancing the property allocation perfectly in line with OP-Vuokratuotto Special Investment Fund’s strategy. The tenants will certainly appreciate the building’s key properties, namely its excellent accessibility, high quality standard and modifiable spaces. This creates a good basis for long-term ownership, OP-Vuokratuotto Special Investment Fund Portfolio Manager Antero Tenhunen says.

The property is transferred to the buyer starting July 1st. The sale has a marginal effect on the financial result of NCC Property Development for the third quarter of 2018.

Alberga Business Park is a five-block office development which has now reached full completion. The project scope is approximately 34,000 floor area square metres with workplaces for nearly 2,000 people and parking facilities for more than 600 cars. Alberga Business Park was built by the principles of sustainable development complying with the standards of Very Good by the BREEAM environmental rating system. NCC’s objective is to minimise the environmental impacts of construction, thus bringing added value both to the customer and the society.

NCC carries on with the development of services and the workplace area in the attractive Leppävaara Hatsinanpuisto area in Perkkaa. This area is being developed into an inspiring mixed-use centre offering office, retail, residential, sports and spare-time facilities.

Further information:
Petri Bergström, Head of NCC Property Development Finland,
Tel. +358 50 331 4602
Markku Mäkiaho, President, OP Kiinteistösijoitus Oy,
Tel. +358 1o 252 7272
Antero Tenhunen, Portfolio Manager, OP Kiinteistösijoitus Oy,
Tel. +358 10 252 2263

NCC: Our vision is to renew the industry and provide superior sustainable solutions. NCC is one of the leading construction, property development and infrastructure companies in Northern Europe. In 2017 its revenue amounted to nearly € 5.6 billion and it employed 17,800 people. NCC’s shares are listed on NASDAQ OMX Stockholm.

OP-Vuokratuotto is a Special Investment Fund that invests mainly in residential and commercial properties as well as residential construction in Finland. The fund belongs to the OP Group which is Finland’s largest financial group offering its customers a unique set of banking, investment and insurance services.