AF Gruppen

Regulatory Filings • Jun 2, 2022

Renovation of commercial building in Bergen

Renovation of commercial building in Bergen

AF Gruppen company LAB Entreprenør has signed a contract with Baneveien 16 for the renovation of the building at 16 Baneveien in the city of Bergen. The contract has a value of approximately NOK 190 million, excluding VAT.

Baneveien 16 is a company owned 50/50 by EGD Property AS and LAB Eiendom. The building itself is located in the heart of Bergen’s city centre, with Sparebanken Vest and the City of Bergen’s new performing arts centre as its immediate neighbours, while the Dokken development and the Nøstet neighbourhood are also on the doorstep. The property will be fully renovated into a commercial building with an additional residential storey on the top floor. The largest tenant in the new development will be the Wikborg Rein law practice. There are plans for restaurant operations on the first and second floors.

The contract includes a new façade attached to the exterior of the existing building fabric to ensure that the building is as energy efficient as possible. The building will be BREEAM certified as Very Good.

“LAB Eiendom and EGD Property have in cooperation with LAB Entreprenør developed an environmentally sound project that will have a positive impact on the city as a whole, and it will be a superb and attractive building for tenants,” says Tormod Solberg, EVP Building at AF Gruppen.

Work is scheduled to start in Q2 2022 with planned completion in Q1 2024.

For further details, please contact:

CEO LAB Entreprenør: Gard Kvalheim, tel. +47 907 54 394

EVP Building, AF Gruppen: Tormod Solberg, tel. +47 950 59 495

EVP Property, AF Gruppen: Ida Aall Gram, tel. +47 918 00 826