Aspelin Ramm has sold one of the Nordics’ most attractive shopping centres, ALNA senter, after 40 years’ ownership. The centre has five million annual visitors and an annual turnover of NOK 2 billion. The buyer is Joh Johannson Eiendom AS.
Since real estate developer Aspelin Ramm took over the logistics centre at Alna in 1978, it has developed ALNA from 1995 to become Oslo's third largest shopping centre and a popular retail venue with highly loyal customers. The centre has concentrated on merchandise within construction, furniture, home and interior, sports and electronics, and has annual rental income of NOK 94 million.
"We have had a great interest over the years from investors, both Norwegian and international, who want to buy ALNA senter," says Gunnar Bøyum, CEO of Aspelin Ramm.
Bøyum says that one of the reasons for the sale is that Aspelin Ramm primarily focuses on urban and real estate development and has no industrial position or organisation within the operation and management of shopping centres.
"The sale is part of normal portfolio adjustments of a fully-developed property and frees substantial capital for new projects. We are very proud of what we have achieved with ALNA senter. Price expectations were high,” says Bøyum, adding that it has been a smooth and quick sales process.
"Our advisor, Pangea, went out into the market with the centre in March, signed exclusivity with the buyer in May, and a final signing is now taking place in June," he said.
Bøyum is very pleased that the centre is getting a new, long-term and professional owner who is a specialist within retail and who can continue to operate and develop the property further.
Great faith in further growth
The new owner sees the property as having great future potential.
- From ALNA senter you reach 800,000 people within a 15-minute car ride radius, and the centre is very close to the freight terminals at Alnabru and Alfaset, which becomes more and more interesting considering new retail trends with e-commerce and pick-up points. In addition, the area faces huge developments, including 30-40,000 planned new homes within a five-minute drive from the centre. These are future customers who will underpin further growth, said the new owner of ALNA senter.
The new owner has brought in LL Holding AS’ Lars Løseth, founder and former co-owner of the AMFI chain, to manage the centre in the future. Løseth also strongly believes in the centre’s continued development and growth.
"ALNA senter has a very strong position with an attractive location, strong tenants and solid sales. With around 1,100 parking spaces just outside Ring 3 and with the centre's mix of specialist trade, big box and retail shopping, it is especially suitable for merchandise categories that require a lot of space for handling and showcasing in the future," says Løseth.
Pangea Property Partners advised Aspelin Ramm on the sale, while BAHR served as the legal adviser. Pareto Securities AS served as adviser for the transaction on the buyers’ side, with Wiersholm as the buyer’s legal adviser.
Facts about ALNA senter:
- One of Norway’s largest retail centres, third largest in Oslo and tenth largest in Norway
- Located at Alnabru, just beyond Ring 3 in Oslo
- Nearly 5 million visitors annually
- 70,000 sqm., incl. 1,100 parking places
- Many major, solid tenants with long-term leases, such as Elkjøp, Skeidar, XXL, Biltema, Maxbo and Meny