Norwegian property company Scandinavian Property Development (SPDE) said it has entered into an agreement with Aker Solutions that gives the latter the right to purchase the commercial properties NB2/3 at Hinna Park, Stavanger and the area K2 at Fornebu in Southern Norway .
Norwegian property company Scandinavian Property Development (SPDE) said it has entered into an agreement with Aker Solutions that gives the latter the right to purchase the commercial properties NB2/3 at Hinna Park, Stavanger and the area K2 at Fornebu in Southern Norway .
Aker Solutions has the right to exercise the purchase option until 15 November 2009. The two companies have agreed on a potential purchase price of NOK 366 mln (EUR 43 mln). The K2 property at Fornebu offers potential for development of up to 28,000 m2 of office space, while the asset at Hinna Park (NB2/3) has building permission for around 43,000 m2 of office accomodation.
SPDE said that it will inform the market regarding details of the agreement if the option is exercised.
Furthermore, the company announced that its Hinna Park Utvikling subsidiary is selling the B2 and B3 residential assets providing 12,390 m2 of space to Kruse Smith Eiendom for NOK 52 mln. It also signed a construction contract with Kruse Smith Eiendom to develop the Fjordpiren office building in the industrial area of Jaattavaagen.
The agreements, which are mutually dependant, are subject to final approval by the board of directors of both Kruse Smith Eiendom and Hinna Park Utvikling.
