“In Fredriksberg, we developed a unique office project with a modern design, an interesting tenant mix and an attractive service offering. We are pleased that Swiss Life has chosen to invest in the project, which is located in one of Helsinki’s most attractive neighbourhoods,” says Petri Bergström, Head of NCC Property Development Finland.

The project covers a total of approximately 9,000 square metres of lettable area for offices and retail, and is the first of a total of four phases.

At the time of sale, the leasing rate was 72 percent, and NCC is providing a two-year rental guarantee for unleased space in connection with the sale. After the sale, NCC has an additional approximately 31,000 square metres that can be developed in connection with the project.

The transaction will be conducted as a company divestment, with an underlying property value of SEK 460 million. The sale will have a positive impact on earnings in the fourth quarter of 2018 in the NCC Property Development business area.