Savills News

Polestar chooses Norway to lease first global retail space

Polestar, the standalone electric performance brand from the Volvo Car Group, has agreed to lease its first global retail space at Øvre Slottsgate 7 in Oslo, Norway. International real estate advisor Savills and local partner Malling & Co advised Polestar on the deal.  

Johan Fischer, Global Retail at Polestar, says: “We are very excited to be opening our first Polestar Space in Oslo in 2019 on Øvre Slottsgate, where we will be surrounded by other progressive brands. We are excited to confirm our first location in Norway, in one of the most important markets for electric vehicles. This is a great platform to continue growing and implementing Polestar’s new retail concept and channels in Europe, China and the US.”

Thomas Frogner, Partner at Malling & Co, adds: “The positive economic outlook for Norway, accompanied by very low vacancy rates, suggests that we will continue to see a strong letting market in central Oslo throughout 2018. This lease agreement in central Oslo in a high quality asset is a fantastic deal for Polestar.”

Larry Brennan, Head of European Retail Agency at Savills, comments: “Savills is delighted to be involved with Polestar in their search for retail properties and we look forward to the opening of the first outfit in Oslo in 2019.”

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