NCC and Jernhusen form joint venture company for Park Central
The development of Park Central in Gothenburg is continuing. The building is being developed jointly by NCC and Jernhusen, which have now entered a joint venture. The formation of the joint venture company marks an important step toward the realization of Gothenburg’s new landmark building. This is the first building to be constructed in the new urban space that is set to emerge around Gothenburg Central Station. The parties each own 50 percent and construction is scheduled to commence in early 2024, with expected occupancy in 2027.
Image: Krook & Tjäder
“This project with Jernhusen has been in the planning for some time, and we are delighted that the joint venture company is now in place. With its unbeatable location, Park Central will be an integral part of the hub in Gothenburg inner city that NCC is jointly developing,” says Joachim Holmberg, Head of NCC Property Development.
The building will contain office premises and a station entrance designed by the architectural firm Krook & Tjäder, featuring a warm and welcoming, sleek Scandinavian design. The office premises will have a unique central location, with large cohesive areas of space on each floor, a unique verdant roof garden for tenants and a broad offering of services on the station level. The building will be certified at the Excellent level under the BREEAM environmental performance system.
“We look forward to continuing this journey together with NCC. The formation of the company for Park Central marks the start of work to improve the interconnection between city and infrastructure for major flows of travelers in Gothenburg city center. Park Central is the first building to be developed as part of the city district that will emerge around Gothenburg Central Station in one of our most extensive urban development projects,” says Kerstin Gillsbro, CEO of Jernhusen.
Park Central is a building with offices and shops comprising a total of approximately 40,000 square meters. The building will be constructed above the West Link and connect with the West Link’s Centralen station, which NCC has been working on since 2018 on behalf of the Swedish Transport Administration. The Gothenburg planning authority granted the building permit for the project in December 2022 and the construction contract has been signed between the joint venture company and NCC Building Sweden, which was registered among orders in the fourth quarter of 2022 and announced in a press release NCC signs construction contract to build Park Central in Gothenburg.
“Park Central will be constructed on a small site in a central location, and also be connected with the enormous West Link infrastructure project that is ongoing under ground. This project will require us to utilize the full breath of our expertise, and we are proud to have been entrusted with the task of realizing a key landmark and central meeting place in Gothenburg,” says Henrik Landelius, Head of NCC Building Sweden.
NCC has acquired 50 percent of the company owning the property from Jernhusen, which will repurchase this shareholding when the property is fully developed. Park Central is being developed by NCC Property Development and Jernhusen, and is being constructed by NCC Building Sweden.
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About NCC. NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to a positive impact of construction for its customers and society. Operations include commercial property development, building and infrastructure project contracting, and asphalt and stone materials production. In 2022, NCC had sales of SEK 54 bn and 12,500 employees. The NCC shares are listed on Nasdaq Stockholm.