"Olav Thon Eiendomsselskap already owned 50% of AMFI Larvik. We have now bought the entire center and the associated business premises in the Triade building. We think AMFI Larvik has an exciting location in the city and we look forward to taking on the job of further developing the properties as part of Larvik city center. We are also satisfied with the agreement, which means that this will now be a wholly owned center in our shopping center portfolio," says Olav Thon Gruppen's Deputy CEO, Ole-Christian Hallerud.
Larvik Center Holding AS has sold its share to Olav Thon Eiendomsselskap ASA.
"We have chosen to sell our shareholding in the real estate company Bryggerikvartalet AS, which owns 50% of AMFI Larvik and the Triade building. We took part in taking the initiative for the development of the Brewery Quarter 12 years ago, and feel that the time has now come for the Olav Thon Group to take this forward as a wholly owned center. The Olav Thon Group has both the will and the financial ability to develop these properties further. A further development of AMFI Larvik and the Triade building will strengthen Larvik city center. The contract has been signed and will take effect on 19 November," says general manager of Larvik Center Holding, Herleif Bergh-Nilsen.
AMFI Larvik has approx. 30 shops, restaurants, liquor store, hairdresser, and optician. The center is located in the city center at the address Jegersborggata 4 a short distance from the train station. AMFI Larvik is a well-run shopping center where the stores have had a store turnover that has been above the average in the Olav Thon Group.
The Triade building, with address Nansetgata 5-7, consists of office premises and retail premises.
"We would like to thank for a good collaboration. We are now in an early planning phase where we are looking at how we want to position AMFI Larvik to meet the customers of the future. The turnover has been good at the center in recent years, and there is great potential in the region. We want to contribute to further developing Larvik center as a destination with these properties," says Hallerud.
In 2019, AMFI Larvik had a turnover of approx. 303 million kroner and approx. 562,465 visitors. The property is approx. 10,000 m².