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NCC leases 10,000 square metres in Finland and sells project to Varma.

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NORDIC BUSINESS REPORT-August 29, 2019-NCC leases 10,000 square metres in Finland and sells project to Varma

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Construction, infrastructure and property development group NCC AB (STO: NCCB) announced on Wednesday the signing of a long-term lease with Trimble Solutions Corporation for a new office project at Hatsina in Espoo, Finland.

Trimble has signed a long-term lease for approximately 10,300 square metres with occupancy scheduled for 2021.

According to NCC it will be an active participant in Hatsina, which is a large development area encompassing almost 100,000 square metres of development rights for offices, hotels, retail and housing.

NCC's project is the first development phase in the area and comprises approximately 18,500 square metres of leasable space for offices, as well as some 380 parking spaces in a separate parking garage.

Also, NCC has signed an agreement with pension insurance company Varma to sell the project when completed, including the adjacent parking garage.

This divestment to Varma will be conducted through a corporate wrapper. The transaction is expected to have a positive impact on earnings for the NCC's Property...

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