The Arendal Fossekompani portfolio of properties include an urban development project, an airport and center for aviation, and some stand-alone properties.
The portfolio of AFK Property is diverse. It includes the development of a new urban residential area in Arendal, featuring an outdoor recreational space and a public water park – and the management of several properties in Southern Norway.
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The largest company in the property portfolio is Vindholmen Eiendom, which is transforming an old shipyard area into a new urban residential and commercial zone under the name Bryggebyen. The transformation will take 10-15 years to complete and will create 500-700 residential units in combination with exciting trade and commerce offerings. The third stage of the apartment complex at Bryggebyen is progressing according to plan, with 44 of 48 apartments sold per end of the quarter. Arendals Fossekompani also plans to build an indoor swimming facility at Bryggebyen. Arendal municipality has signed a long-term rental agreement, and a final investment decision is scheduled for late 2023. If the regulation process progresses according to expectations, building will start in early 2024.
Read more about Bryggebyen HERE
AFK Property is the majority owner of Gullknapp, which comprises an airport and an attractive 200,000 sqm industrial and commercial area. The main user of the airport facility is OSM Aviation Academy which runs a pilot school on the premises. Future plans include developing the airport facility into a center for drones as well as a hub for electrified aviation under the name Gullknapp Aerial Center.
Read more abour Gullknapp Aerial center HERE
Bølevegen 4
This property, located along the Skien River, just one kilometer south of downtown Skien, was acquired in 2020. The 4,700 sqm building is fully let to Arendals Fossekompani’s portfolio company ENRX on a 15-year bare-house agreement. As the city of Skien expands, this 12,000 sqm river property will be attractive both for commercial and residential development. AFK Property will develop new facilities for ENRX, providing approximately 2,500 sqm of new offices, production and storage space. Application papers have been filed with Skien municipality, and development commenced in the second quarter of 2023.
Longum Property
The 170,000 sqm property is located outside the city of Arendal, close to the E18 highway and the main production site of the coming Morrow Batteries. After the process to regulate the Longum property for commercial development started, the first inquiries for purchasing and/or renting space have been registered.
Bedriftsveien 17
Bedriftsveien 17 is located in the middle of the emerging commercial area Krøgenes, three kilometers east of downtown Arendal. The 3,500 sqm building has been completely refurbished and is now fully let to Volue Industrial IoT on a 25-year bare-house agreement. The area has grown in attractiveness following the completion of a new feed-in road to the E18 highway.
