The joint venture Gardermoen Campus Utvikling (GCU) – which is owned by Hemfosa (65 percent) and the Norwegian property development company Aspelin Ramm Eiendom – Hemfosa has signed an agreement with Ullensaker Municipality to construct a new local medical center that will provide care and other services for the residents of four nearby municipalities. The total project cost is approximately €33 M.

A 30-year lease, which encompasses operation and maintenance, was signed with Ullensaker Municipality for slightly more than half of the total project area of 7,826 sqm. Negotiations are in progress concerning leasing of other areas in the property, which is being built adjacent to the specialist hospital. Construction is scheduled to commence in spring 2016, with completion expected in January 2018.

“The fact that Hemfosa has been selected as the property developer for yet another project in this expansive area shows that we have established a strong position in community service properties in Norway, and we see good opportunities for continued growth through both acquisitions and additional development projects in the country,” says Lars Thagesson, COO of Hemfosa, who is managing the project on behalf of Hemfosa together with Simon Venemyr Ottersland, COO of Hemfosa Norway.

“We believe that co-location of health and care services creates a strong environment and enables efficient operation. The fact that this property is being constructed directly adjacent to the heart and lung specialist hospital that we have started building will create clear advantages for the tenant. The project will also provide us with a stronger foundation for continued expansion in this exciting campus area,” says Gunnar Oveland, Project Manager at GCU.

GCU is classified as a joint venture since, under the shareholders’ agreement, the two parties have equal power of decision in the projects. 

The long-term plan for the campus area, which is located near Oslo Gardermoen Airport, is that it will represent a significant health and medical care competence park, and comprise operations in such areas as research and education, as well as offices, stores, restaurants and service.