From Iceland — Perlan Is For Sale

Perlan Is For Sale

Published September 12, 2023

Photo by
Art Bicnick

On September 7, the City Council approved the Financial and Risk Management Division of the Real Estate Department to initiate the sale process of the interactive nature museum Perlan and two adjacent water tanks located in Öskjuhlíð, Varmahlíð 1.

Perlan opened in 1991, after being constructed by Reykjavík Energy. The City of Reykjavík purchased it in 2013, later purchasing the two water from Reykjavík Energy. At the time of the purchase, the operation of the building was not profitable, and the revenues were barely sufficient to cover property taxes and land rent.

In the 10 years since the City’s purchase of Perlan, a complete turnaround in its operation has occurred, and the revenues now comfortably cover the expenses. The property was advertised for lease; the current tenant is Perla norðursins ehf.  In recent years, Perlan has undergone significant changes and now houses exhibitions and restaurants.

Perlan is one of the tourist attractions in the city, offering magnificent views of the capital area and the surrounding mountains from its observation deck. Perlan features a variety of exhibitions, including an ice cave, a planetarium, and interactive displays about Icelandic nature and culture.

The size of the building and tanks is approximately 5,800 square meters, and the property value is ISK 3,942,440,000.

The City Council has to provide the final decision on the case on September 19.

Support The Reykjavík Grapevine!
Buy subscriptions, t-shirts and more from our shop right here!

Show Me More!