The purchase is in line with the company's development plans in the area around Hammersborg. The property company already has Møllergata 4, 6, 8, 12-14 and 37 in its portfolio. The latter is owned 50% together with AB Invest AS. In addition, the company owns Gamle Deichmanske, which was recently named Deich and is to be developed into Oslo's new meeting point for people, photography and experiences.

"The Hammersborg area is one of Oslo's most exciting development areas. The area lies midway between east and west, and together with the new Government Quarter, the Government Park and the Deich photo house, everything is in place for this to become a new attractive gathering point for the city. The purchase of Møllergata 24 underpins that the long-term footprint we want to have in this revitalized area," says Thomas Sletten, Investment Director Møller Eiendom.

Møllergata 24 is a modernist building with 11 floors built in 1938. The largest tenants in the building are the National Health Inspectorate and the Swedish Confederation of Norwegian Communities. Seller Storebrand is very satisfied with the sale and the new buyer.

"As for the seller, we are very happy that it is Møller Eiendom that has bought, as this is a solid and local real estate player – and which has the best conditions for further good operation and development of both the property and adjacent areas," says Linn Idsø Brenne, Portfolio Manager at Storebrand Livsforsikring.

SPG Corp acted as broker in the transaction. Arntzen de Besche has been the buyer's adviser and Haavind has been the seller's adviser.