The office building was recently completed. It has 11 floors and a total of 13,000 square meters. The building is fully let. The average lease term is ten years and the annual rental income is around NOK 35 million. The largest tenants are the Norwegian Public Roads Administration, the County Governor of Oslo and Viken and the audit firm KPMG. 75 percent of tenants are public companies.
"We are very pleased with both the sale and the process. It has once again proved that it is profitable to invest in quality and sustainability in the development and construction process, and that BREEAM-NOR certification is an important quality stamp," says development director Morten Austestad of Bane NOR Eiendom.
Drammen has for a long time had a positive city development and is an attractive market for many private investors. The public sector has also initiated major investments in Infrastructure and a new hospital.
"Drammen is very important to us. We have several major projects upcoming in the city. I can mention Proffen Hageby, Tangenkaia, Nybyen and Drammen health park. The market can also expect future investments on our part in the city's most attractive office area by the railway station and river," says Austestad.
Bane NOR Eiendom has as part of its strategy to develop and build commercial real estate and housing at transportation hubs in cities, making Bane NOR Eiendom one of Norway's largest property developers.
Pangea Property Partners has been financial advisor for Bane NOR Eiendom in the sales process in Drammen. The law firm Thommessen has been legal advisor.