NCC sells Phase II of Alberga business park in Finland

NCC Property Development has sold the second phase of the Alberga business park in Espoo in the Helsinki area of Finland to Union Investment Real Estate.

The transaction, which is being conducted as the sale of a company with an underlying property value of SEK 196 mln (EUR 23 mln), involves some 5,600 m² of leasable commercial space - mainly offices - as well as parking spaces for 200 cars. The project, expected to be completed in September 2012, is currently 65% pre-let.

NCC will be responsible for leasing the remaining vacant space for three years after completion.

Union Investment is also the owner of the first phase of Alberga, which was completed in December 2011 and is now fully leased.

The third phase is also being developed and will encompass a total of some 5,500 m² of leasable commercial space, bringing the total amount of space in the business park to 30,000 m².

Separately, NCC said it has secured the contract to construct a new office building at Arlanda Airport in Sweden. The client is Swedavia and the value of the contract is estimated at about SEK 480 mln. Project planning will commence immediately and the start of construction is scheduled for the first quarter of 2013.