Skanska Commercial Development Norway completes sale of Workplace Oo

Skanska Commercial Development Norway have successfully divested Workplace Oo with the address Vitaminveien 4, located in the Storo / Nydalen area in Oslo. The multi-tenant office building completed in 2018/2019 was acquired by DNB Scandinavian Property Fund for NOK 1.325 billion.

Storo / Nydalen is one of the most successful city development areas in Oslo, benefitting from a thriving mixed-use scene including research, education, culture, sports, retail, food & beverage, residential and office premises. With a key location by the Storo public transportation hub, the asset has excellent accessibility by metro, bus, tram and train with direct lines ensuring 11 minutes travel time to the Oslo CBD. The success of the area is underpinned by a leasing market which has performed very well in recent years showing solid rental growth and low office vacancy.

Workplace Oo is a 24,000 sq. m high-quality new-build scheme. Focus has been on providing current and future tenants a flexible office building with all the amenities expected by the modern employee and user. Furthermore, Skanska have focused on the environmental profile of the asset which will be BREAAM-NOR Excellent certified and achieve Energy Classification A. Workplace Oo will also be the first Skanska CDN asset in Norway with the patented Deep Green Cooling system. The asset has a solid tenant mix including the Norwegian Directorate of Health and the Municipality of Oslo – District Sagene on long-term contracts, global browser provider Opera Software and co-working player Evolve Business Space.

Skanska Commercial Development Norway was advised by Akershus Eiendom, with legal advice from Wiersholm. Schjødt acted as legal advisor for DNB Scandinavian Property Fund.

Skanska Commercial Development Norway AS initiate, develop, lease and divest commercial property projects, focusing on office building in Oslo. They provide workplace solutions that are sustainable and efficient while at the same time offering comfort, flexibility and a healthy work environment. Skanska Commercial Development Norway are a part of Skanska Commercial Development Nordic AB, one of the largest office developers in the Nordics.

DNB Scandinavian Property Fund AS owns commercial properties in Norway and Sweden for NOK 9.6 billion. The fund was established to give institutional investors the opportunity to invest in a well-diversified and unlevered property portfolio together with DNB Life. The fund is managed by DNB REIM, a subsidiary of DNB Life.