Herøya Industripark AS buys REC buildings 1 and 2 – major development potential possible
REC BUILDINGS 1 AND 2: The two buildings were constructed in 2002-03 and 2005 respectively, and together they total an area of 23,000 square metres.
REC buildings 1 and 2 have finally found new owners. The buildings are being purchased by Herøya Industripark AS. The company sees great potential for the two buildings, which cover more than 23,000 square metres.
The two buildings were constructed in 2002-03 and 2005 respectively and are two of the newest buildings at the industrial park. These were home to REC Wafers’ production of photovoltaic wafers until the company was shut down in 2011. The buildings have been cleared of wafer production equipment and have been on the market for a while, along with REC buildings 3 and 4. As has already been announced, these two buildings were purchased by Herøya Næringspark AS last year and are being rented to Elkem Solar, which has commenced solar production.
Good opportunities for tenants
Kjetil Houg, Director of Investment at Oslo Pensjonsforsikring (OPF), owner of Herøya Industripark AS, states that this is a property investment for OPF, with Herøya Industripark AS as the natural owner of the buildings. “These two buildings provide HIP with potential and major flexibility as regards leasing,” says Kjetil Houg. Both Houg and Bolstad reckon that there are plenty of opportunities to attract tenants to the buildings.
“These buildings may be appropriate for various businesses, and we perceive opportunities to bring in tenants that are already established at the park, and completely new tenants as well. New tenants will help to increase activities at Herøya and reduce joint costs for existing tenants,” they state.
Are you working with specific tenants?
“We are processing enquiries and working with a number of potential tenants,” confirms Thor Oscar Bolstad, who would prefer not to name names.
Modern, robust buildings
The sales prospectus for the buildings states that buying all or parts of the property portfolio will give new buildings at a price far below the cost of construction, as well as providing access to the outstanding infrastructure and location offered by the industrial park.
It also states that these buildings are modern and robust. They are equipped with excellent technical installations, including plenty of load-bearing capacity in parts of the floor, good ventilation and cooling systems, particularly good power supply, and so forth – all factors suitable for energy-intensive production activities. The premises have plenty of vehicle access gates, overhead cranes and various other items of equipment. The premises also include offices, cloakroom facilities, a canteen and other facilities for employees.