Art and Value Storage Facility of 14,500 m2

Oslo Airport City has sold the new, modern logistics building covering 14,500 m2 at Gardermoen to Fearnley Securities.

The property is specifically designed for art storage and will house the art collections of Kistefos and Astrup Fearnley international art collections. MTAB, a highly recognised player in the storage and transportation of art and other valuables, will assist in managing the art collections, in addition to leasing a significant portion of the area exclusively for third-party rentals.

The new logistics building meets a high standard and has BREEAM environmental certification. It will receive district heating from Statkraft. The building is currently under construction and is being developed in close collaboration between the buyer and Oslo Airport City as the developer.

"Exactly what we need"
"Gardermoen as a location gradually became an obvious choice, and with Oslo Airport City as the developer, we have been given the opportunity to design exactly what we need," says Axel Bendvold, Head of Project Finance at Fearnley Securities AS.

"The location in the new logistics park is very attractive and the developer has involved us in every step of the process. The result is a modern art and value storage facility of high quality, with excellent and innovative solutions tailored to our use," says Bendvold.

"We are very satisfied with the sale and see it as a vote of confidence that the users themselves are becoming the new owners," says CEO Thor Thoeneie of Oslo Airport City.

High utilisation rate

The three-storey logistics building is a clear illustration of how good planning and collaboration can lead to better solutions, with a utilisation rate of up to 150%, reducing energy consumption and using a much smaller land area.

"Alongside the users, we have developed a modern and space-efficient building with forward- looking solutions tailored for today's needs, while also planning the building with the flexibility to adapt to future changes and requirements," says Thoeneie.

Completion in December

The buyer has actively participated in the planning and construction phases and will continue to do so until completion and handover in December 2023. The building is being constructed under a turnkey contract with Vedal Construction and with the Nordic Office of Architecture as architects. It follows the same execution model Oslo Airport City uses for all three logistics buildings it has under construction, totalling 76,000 m2.

Arntzen de Besche has assisted the buyer, and the law firm Ræder has been the seller's advisor.