Technopolis to Invest EUR 46 million in Organic Expansion in Tampere
TECHNOPOLIS PLC INVESTOR NEWS December 12, 2017 at 9:00 a.m. EET
Technopolis to Invest EUR 46 million in Organic Expansion in Tampere
Technopolis has decided on EUR 46 million investment in organic expansion in Tampere, Finland. The new City Center Campus will be built in the CBD Tampere with excellent connections. Construction work is scheduled to start in February 2018, after the receipt of a building permit by City of Tampere. Project is due for completion in December 2019, and first leases are set to start on Jan 1, 2020.
“This investment is an important part of our organic growth strategy”, says Keith Silverang, CEO of Technopolis. “Tampere is one of the most dynamic cities in Finland. It is a growing but well-diversified knowledge economy”, he continues.
The City Center campus will have a rentable area of 13,200 m² upon completion, and the pre-let rate at present is 34%. The campus will also have a parking facility with some 120 parking spaces. The initial net rental yield of the project is estimated at 6.4% and stabilized yield at 7.9%. City Center campus is on track to achieve Gold-level LEED (Leadership in Energy and Environmental Design) certificate.
“I am truly excited about having this new high-profile campus in CBD Tampere with excellent location, just five minutes from the railway station and the main streets. In CBD Tampere, there is growing demand for well-functioning, quality office space with value-adding services. The high occupancy (95%) of our other CBD campus combined with a 34% pre-let rate gives us confidence in the success of this project”, says Henri Rantalainen, Director, Tampere operations of Technopolis Plc.
Technopolis Plc
Further information:
Keith Silverang
CEO
Tel. +358 40 566 7785
Technopolis provides the best addresses for success in six countries in the Nordic-Baltic region. The company develops, owns and operates a chain of 17 smart business parks that combine services with flexible and modern office space. The company’s core value is to continuously exceed customer expectations by providing outstanding solutions to 1,600 companies and their 50,000 employees in Finland, Sweden, Norway, Estonia, Russia and Lithuania. The Technopolis Plc share (TPS1V) is listed on Nasdaq Helsinki.
|