Norwegian listed company Entra has sold a modern office building in Drammen for NOK 335 mln (€30.3 mln) to an unnamed buyer.
The price paid for the 7,400 m2 Grønland 32 property is around 18% above book values as of 31 December 2022 and the proceeds will be used to strengthen Entra's balance sheet.
The property, which currently houses Vestre Viken HF, features space-efficient solutions and large window surfaces that provide plenty of light in the premises.
The building has a total of six floors and in 2020-2021 four of the floors and the entrance area were renovated.
The surrounding area consists of office properties, housing, a hotel, university, library, restaurants and shops.
Located close to Union Brygge in Drammen, the office building offers easy access with a well-developed public transport service in the immediate vicinity.
It is a short distance to the E18 motorway, as well as the Mjøndalen and Kongsberg roads.
The transaction is in line with Entra's strategy to focus the portfolio on large, flexible office buildings close to public transportation hubs and to divest non-core assets.
Entra owns and manages around 100 properties totaling 1.6 million m2 in Olso, Bergen, Trondheim and Stavanger.
