CBRE has now started work on selling the former US Embassy. The interest is big.
Last week estate adviser CBRE went out with a teaser for the sale of the property of the US Embassy in Henrik Ibsen’s gate 48. The property is broadly marketed both to Norwegian and international investors.
– It is a unique property with historic atmosphere and a perfect location. There is great interest from various parties. The interest is shown by multiple types of buyers, including Norwegian and international property developers, private investors and major real estate companies, Senior Manager in CBRE Capital Markets, Hans-Christian Birkedal, says to Estate News.
He would not say anything about what the expected sales price is or what rental income the property might yield. The building is 6,022 square meters split over four floors and basement.
– A new owner must be willing to renovate the building, and also must deal with those heritage features of a building worthy of preservation. We are nevertheless confident that the building will be very attractive for future use and achieve unprecedented rental levels due to its uniqueness. It is the buyer that can see this potential to its fullest that probably ends up with it in the end says Birkedal.
According to CBRE, which apprehended the sales mission in early October of last year, the indicative bidding will start in early May. Interested parties can see the property at the end of the month, and then it will be a second round of bids in early June.
The property was completed in 1959. It was designed by the world famous Finnish-American architect Eero Saarinen.
Saarinen has also designed the General Motors Technical Centre in Warren, Michigan, and the US Embassy in London. The US embassy in Oslo is considered as one of Saarinen’s most famous buildings outside of the United States.
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Source: Norway Today