SRV Viitoset Oy has sold the Trigora office buildings located in the Kamppi Centre to the German real estate investment fund Aareal Immobilien Kapitalanlagegesellschaft mbH. The sale price is €54.6 million.
The Trigora complex comprises three office blocks in the Kamppi Centre. The total floor area for leasing is 12,000 m². Trigora forms a part of the Kamppi Centre, which also accommodates 150 shops and restaurants, the underground, bus terminals, a market square, parking facilities and 99 apartments. The office blocks are on five floors. Kamppi is surrounded by several hotels, various other commercial premises and offices as well as all the cultural and leisure activities on offer in the centre of Helsinki.
We have been giving offers to several properties in Finland during the last year and we are very proud and happy to be able to acquire such top quality properties like the Kamppi offices, says Lars Blanke, Acquisition Manager for Aareal Nordic Fund. Kamppi is a perfect complement to our existing property in Finland and we are planning for further investments during the year, Mr Blanke continues.
Developing and constructing the Kamppi Centre in collaboration with the City of Helsinki has been a successful project for SRV. We had several Finnish and foreign prospective buyers interested in the Kamppi office buildings, but seeing that Aareal Bank AG financed the shopping centre, it was a natural progression to enter into further collaboration with the company, explains Timo Nieminen, Executive Vice President of SRV Group.
Construction of the Kamppi Centre begun in August 2002, and the opening of the bus terminals was held on 2 June 2005. The shopping center was opened to the public on 1 March this year, and the remaining work in the external areas will be completed in June. On 12 April 2006 the Kamppi shopping center was sold to a company formed by the English real estate investment company Boultbee and The Royal Bank of Scotland.
The Kamppi Centre project has been an extensive one and it has required diverse areas of skill and expertise, involving the development of a shopping centre, logistics, legal issues and the marketing of commercial and office premises. Excellent planning skills and a high level of professional competence were also essential in order to carry out blasting in the very heart of the city.
The apartments in Kamppi sold well in the autumn and we sold the shopping center in April. The office buildings was the last piece of the jigsaw to go. Apart from the finishing touches to the outside areas, the Kamppi project has now been completed, and we are truly pleased with the result. We can now look to the future and develop the company using the resources being released from the Kamppi project, says Eero Heliövaara, President and CEO of SRV Group plc.
Source: SRV Group