Norwegian Property has agreed with NAV (the Norwegian Labour and Welfare organisation)
to extend the existing lease contract in Ibsenkvartalet (C.J.Hambros plass 2) for 5
years from 1 October 2011.
The lease contract comprises approximately 9 200 square meters. The extended lease
contract implies a rental uplift of approximately 14 per cent.
The extension is agreed based upon “as-is” terms, i.e. no investment obligations for the
lessor.
Director leasing and market Market Aili Klami says in a comment:
“NAV’s space in Ibsenkvartalet comprise approximately 20 per cent rental space up for
renewal in 2011. We secure a public tenant for five years on better terms. The new
contract confirms that the Oslo rental market is improving.”
For further information, please contact:
Norwegian Property ASA
Olav Line, CEO
Tel. +47 48 25 41 49
Aili Klami, director leasing and market
Tel. +47 95 26 45 55
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)
HUG#1420257