Lund 6 October 2011
Northern Logistic Property (NLP) has signed a ten year tenancy agreement with Green Cargo Logistics AB, under which NLP will develop a 28 250 m² modern logistics property in Helsingborg by extending an existing building. Green Cargo Logistics is currently a tenant of NLP.
Newbuild projects like these are an important part of NLP's strategy and this is the second large newbuild project in 2011. I am proud and glad that we, in tough competition, were given the opportunity to continue to develop Green Cargo Logistics' business through this newbuild. I would like to thank our existing tenant ICA and the indirect tenant Sateba, whose involvement and flexibility have made the project possible. I am also very pleased with the good collaboration with the municipality of Helsingborg, which has simplified the process of carrying out the project," comments Peter Strand, CEO of NLP.
The Bunkagården Mellersta 2 property is located in the Ättekulla industrial area in Helsingborg, which logistically is attractively situated by E6 and the exit road to Helsingborg South. A couple of kilometers north of this exit the highway splits towards Oslo (E6) and Stockholm (E4), respectively.
"This project is an important part of Green Cargo Logistics' further efforts in Helsingborg. We are pleased to continue our relationship with NLP," says Håkan Lindberg, Area Manager in Green Cargo Logistics AB.
All of the existing property, currently 5 300 m2, is now leased by ICA, which has terminated their tenancy agreement with effect from 30 September 2013. NLP and ICA has arranged for early termination of the current agreement with ICA with effect from 1 February 2012, in order to start rebuilding of the current property. A substitute property has been identified and agreed to by ICA and the indirect tenant Sateba, with effect from the start of construction through to the expiry of the tenancy agreement.
Commencement of the tenancy agreement and the move-in date depend on certain government approvals, although the property is scheduled to be ready by fourth quarter 2012.
For further information please contact:
Peter Strand, CEO: +46 705 88 1661, email: peter.strand@nlpfastigheter.se
Northern Logistic Property ASA (NLP) is a leading pure-play logistic property company based in the Nordic region. The portfolio consists of 20 advanced logistic properties located in strategic locations relative to major logistics flows, with a total lettable area of 711 000 square meters. It is the only listed company of its sort in the Nordic countries.
NLP delivers stable and increasing revenue and cash flow from rental income, driven by an attractive lease structure with solid tenants.
This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)