Long-term investment in Marienlyst

F.l. Morten Borge, Johan Andresen, Birger Magnus and Thorr Gjermund Eriksen photo by Ole Kaland NRK

We are in demanding times, and it is more important than ever before to take a long-term perspective. When Ferd was announced as the new owner of Marienlyst, its desire to create value for the long term was particularly in focus. “Acquiring this site has been a dream of ours for a long time”, comments Morten Borge, the CEO of Ferd.

Thor Gjermund Eriksen, the Director-General of the Norwegian Broadcasting Corporation (NRK), was also clearly pleased at the press conference on 26 February 2020.

“I am looking forward to – I’m very excited about and am looking forward to collaborating - I nearly said “for what will I hope will be as short a period as possible” – but for what will be a few years”, he commented.

Ferd spent a long time working extensively on its proposal, which ultimately saw it triumph against strong competition and thus secure what is one of the sites of greatest significance in Norway.

“We are proud and humble about the task ahead, and we have our best people working on it”, commented Ferd’s owner, Johan Andresen.

Marienlyst to become Lyst
Johan Andresen did not hesitate to explain that he has good memories of much in NRK’s rich archive, and he also explained that the site’s history will be taken into account when the site is developed for the future.

Ferd’s initial plans for Lyst can be read in their entirety in the first issue of Ferd magazine from 2019. Ferd wants Marienlyst to have around 1,000 new residential units, to provide workplaces for several hundred people, and to contain cultural and sports venues as well as facilities for innovation and entrepreneurial activities. This summer the zoning work will start in earnest.

“We see this as a unique once-in-a-generation opportunity. We want to create an inclusive district here in Marienlyst, so we are very grateful to NRK. We are very much looking forward to starting the zoning work”, commented Morten Borge to Thor Gjermund Eriksen and Birger Magnus, the Chairman of the Board of Directors of NRK.

However, before Ferd can achieve this, it faces a multi-year process involving neighbourhood associations, sports clubs, experts and individuals.

“This is an area that many people care about, and we are respectful of the transformation that will take place here over the next 10-15 years”, commented Morten Borge.

NRK and Ferd in a strong partnership
On 19 December 2019 Ferd submitted the proposal that would eventually secure it the contract, which will have a total value of at least NOK 3.75 billion. The final total will not be determined until the final zoning plans have been completed, but it will be the largest single investment ever made by Ferd.

The contract contains the condition that NRK must be given sufficient time to find new and modern headquarters. In other words, it will be a number of years before the first spade is in the ground at Marienlyst. According to Thor Gjermund Eriksen, the aim is for the move to new headquarters to strengthen NRK, and for the organisation to avoid unnecessary pressure or risk. “You, Johan, are the perfect partner. You take a long-term approach and are thorough, and you understand our work and that we need time to do this properly”, he explained.

Enduring value
Since the first conversations in 2013 with Hadia Tajic, the Minister of Culture at the time, the schedule for the extensive sale process has been followed to the letter – from the sale preparations and the planning programme through to the subsequent year-long tender process.

Ferd has not previously completed a comparable project, but it has significant experience from its development of Tiedemannsbyen in the Ensjø area of Oslo. Ferd’s development of Marienlyst will undoubtedly be of great significance to Ferd’s real estate business area in the years ahead.

“For this project, we will bring together all our expertise and will make use of the latest expertise in green mobility, proptech and the creation of good urban spaces in which people of all ages thrive”, comments Tom Erik Myrland, Chief Investment Officer at Ferd, after the press conference.

“We will create enduring value and leave clear footprints there,” he adds.

Read the whole article in Ferd Magazine (only available in Norwegian)  

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