Bonum makes major investment in Lillestrøm

Bonum has, in partnership with Brødrene Jensen and Rema Etablering, secured a large development area of just over 37 decares in Lillestrøm, known as Nesa Nord.

The area is to be subject to detailed zoning and developed into a residential project, aiming for just over 500 homes and 10,000 square metres of commercial space.

New district

We have great faith in Lillestrøm and are very pleased that we now have the opportunity to contribute to the development of a large and central area. The city has already undergone impressive development, with a steady increase in jobs and good amenities for the local population. When you can also reach central Oslo in just 10 minutes by train, it goes without saying that the city is an attractive alternative for many, says Anders Bakken Eriksen, partner at Bonum.

The goal is for the area to be transformed into a new urban district in Lillestrøm. We will continue the good work that the area's previous owners have started, and ensure that this becomes an attractive place to live in Lillestrøm. The area is a priority area for transformation into residential and commercial purposes for the municipality, and we look forward to close dialogue with local authorities from this autumn onwards, he adds.

The sellers of the properties are Saint-Gobain Byggevarer AS, K4 Group AS and Olaisen Eiendom AS.

The parties wish to keep the commercial terms confidential.

The development of Nesa Nord is now entering a new phase, and it has therefore been important for the landowners to secure a new partner with the right competence and resources for this important work. With Bonum, Brødrene Jensen and Rema Etablering, we have gained recognised and solid partners in property development who have both the resources and experience, including from Lillestrøm, to realise the great potential that lies in Nesa Nord in line with our vision for the area, says Rami Haug Khoury, CEO & co-founder of K4 Group AS, on behalf of the sellers.

High ambitions

Before detailed zoning can begin, area zoning must be approved, and we look forward to entering into dialogue with the municipality and planning authorities in this process. We are now starting a longer process for the development of this very exciting area, but have already set the ambition level high when it comes to desired environmental aspects, urban planning approaches and housing quality, says Arild Jacobsen, urbanist and head of planning at Bonum.

Lillestrøm is Norway's ninth largest municipality with 87,500 inhabitants and is experiencing net immigration. Several projects are in the pipeline in the surrounding area, including Kvarteret in Lillestrøm managed by OBOS, just east of Norges Varemesse.

The sellers have used DLA Piper and DNB Næringsmegling as advisers in the process, Wiersholm assisted the buyer side.