Fram and Bonum merge 8,500 square metres

Fram and Bonum enter into collaboration on block development at Økern.

Bonum acquired Økernveien 148 and 150 in Oslo before the summer with ambitions to carry out zoning to realise a larger residential project.

"We work systematically and with a long-term perspective to secure positions and buy properties with interesting development potential. It is always gratifying when the work yields good projects, and extra fun when we also get to zone the neighbouring plot together with Fram", says Bonum's acquisition manager and partner Anders Bakken Eriksen in a press release.

Fram Realinvest has owned the neighbouring property Økern Torgvei 1 since 1994, and Fram and Bonum reached an agreement in August on joint development of these properties. The companies envisage an apartment project, communal areas and outdoor spaces with some element of retail and business. Total area of the plots is just over 8,500 square metres, and with an expected high utilisation rate, it will be a project of considerable size.

"We will zone the properties jointly, and through a joint development company realise the project. Joint zoning of the block provides a smoother process, and we capture synergies in the properties and create a unified project regardless of plot boundaries", he points out.

The development of Økern is a natural extension of Løren, which is a well-established residential area. At the same time, many new workplaces are being established in the area through larger development projects on and around Økern.

Bakken Eriksen has great faith in Økern as a future vibrant district.

"As a hub, the area has proximity to the rest of the city and rapid communication to other regions. The properties we are going to zone are close to the new centre and public transport hub on one side, and the green belt that can be followed to Hovinparken being established to the west on the other. Bonum is also zoning a larger project on the south side of the metro, so the district is definitely an important investment area going forward", says Bakken Eriksen.

"We have followed the transformation at Økern with great interest in recent years. The area is dominated by warehouses and industry today, but with new infrastructure in place, we now want to facilitate good residential environments", says Marianne Tvenge at Fram Eiendom.

Bonum and Fram are commencing the zoning work immediately, and are aiming for a start-up meeting with the Agency for Planning and Building Services this autumn.

Read more about the project here: https://bonum.no/prosjekter/okernveien-148-150