AF Gruppen

Regulatory Filings • Jan 21, 2021

Plot purchase at Askøy outside Bergen

Plot purchase at Askøy outside Bergen

AF Gruppen has entered into an agreement with Boetablering AS to buy 50% of the property at Lønvarden Nord, Askøy, outside Bergen.

The plot is 3.67 hectares and is located in scenic surroundings with 360 degree views. The plot was regulated for housing in 2016. Plans are now being made to develop up to 134 housing units in multiple construction stages. A combination of terraced houses, semi-detached houses and apartment buildings is planned.

The agreement values the property at NOK 67.7 million on a 100% ownership basis. Payment and final agreement are currently subject to approval of framework application. It is expected that the transaction will be completed by Q2 2021. Boetablering AS will continue as the owner of the remaining 50%.

“We are pleased to be realising another land purchase in an area where there is a great need for housing. This is a project where we can create an excellent living environment which has plenty of sunlight and attractive outdoor areas. We aim to get started quickly with further development of the project,” says Ida Aall Gram, EVP Property and HR/Communications at AF Gruppen.

For further details, please contact:

CEO, Amund Tøftum, tel. +47 920 26 712

EVP Property, HR and Communication, Ida Aall Gram, tel. +47 918 00 826