“In the overview plan, the tang is described as a future conversion area. The acquired land area thus has great potential to become a future residential area," says Knut Holte, Managing Partner at SPG.

The seller of the land area is Berg Investment AS. On the property there are currently existing buildings of about 13,000 square meters and they are currently rented out for industrial activities and offices. While detailed planning work is in progress, existing operations will continue to run as before.

“Over the past ten years, the Drammen area has undergone a major development. At present, planning of several major expansion projects in the area is ongoing and the trend seems to continue. The property in Drammen will be an exciting addition to our housing portfolio," Knut Holte adds.

Hadrian Eiendom has acted as a broker in the transaction and the law firm Selmer and the law firm Thommessen have been legal advisors to the buyer and seller.