REAL ESTATE · Exclusive

Commercial property in Bergen sells for a record sum

The buyer is a foreign fund continuing to bet on the Norwegian property market. DN has seen the purchase contract — and the price surprises the industry.

DN Demo Desk · 5 min ago · 4 min read

A 22,000-square-metre office building near Bergen city centre has been sold for NOK 1.9 billion, according to a purchase contract DN has seen. That corresponds to more than NOK 86,000 per square metre — the highest price per square metre ever recorded for commercial property in the city.

The buyer is a fund managed from Frankfurt that over the past three years has built up a portfolio of more than NOK 10 billion in Norway, mainly in Oslo and Stavanger.

Keep reading

Simulated segment: New visitor (intro offer) — Demo controls →

Over NOK 86,000 per square metre and a yield around 4.6 per cent — in a market where sellers have had to accept above five. What justifies the price, and which two neighbouring buildings are already in play, is in the rest of this story.

DN Basis

1 month

Intro offer
(Then $40/month)

All articles
Selected newsletters
Investor with real-time data

Try

Preferred paymentCredit card