Norwegian Property has agreed with the Norwegian Labour and Welfare organisation (NAV) to extend the existing lease contract in Ibsenkvartalet for 5 years from 1 October 2011.
Norwegian Property has agreed with the Norwegian Labour and Welfare organisation (NAV) to extend the existing lease contract in Ibsenkvartalet for 5 years from 1 October 2011.
The lease contract comprises 9,200 m2. The extended lease contract implies a rental uplift of approximately 14%, Norwegian Property said.
The extension is agreed based on 'as-is' terms, with no investment obligations for the lessor.