The property consists of approximately 42,000 sqm hotels, retail, office and parking spaces.

The hotel was built ahead of the 1952 winter Olympics and is today called Clarion Hotel Royal Christiania.

The hotel is run by Clarion Hotels, which is a part of Stordalen’s hotel company Nordic Choice Hotels.

– Royal Christiania is one of the Capital’s most beautiful and important properties. Together with Varner we now have a great opportunity to further develop one of Oslo’s most exciting blocks, says Petter Stordalen.

DNB has worked with Nordic Choice on the development plans for the property. If Oslo municipality approves the plans, the new owner plans on investing almost MNOK 1,000 (€ 108M) to upgrade the property.

The plans consist of among other things, a new 16-floor part with 815 rooms and a conference facility for up to 1,000 people.

The ambition is to create Oslo’s largest and greenest conference hotel.

– DNB Liv has owned the property since 1999 and the cooperation with Nordic Choice has been profitable and exciting, says Gro Boge, CEO of DNB Naeringseiendom.