NCC sells Airport Plaza Business Park Largo for EUR 16m

Sweden's NCC Property Development has sold the Airport Plaza Business Park Largo in Helsinki to Real Estate Fund Finland I for about SEK 175 mln (EUR 16.3 mln). The deal with the fund - managed by Pohjola Kiinteistosijoitus - dates from mid-December.

Airport Plaza Business Park is located in the Aviapolis area of the Vantaa district of the Finnish capital. Plaza Largo, comprising 6,160 m² of office space, is the seventh completed building in the area and was finished in December 2008. Approximately 65% of the property has been leased.

NCC is responsible for leasing the remaining floor space over five years or until all the premises have been leased and has made full provision for the rental guarantees.

NCC Property Development develops and sells commercial properties in defined growth markets in the Nordic and Baltic regions. The firm has 30 ongoing projects at an investment value of SEK 7 bn (EUR 652 mln).