Technopolis Plc is continuing its rapid growth in key locations in the Helsinki Metropolitan Area by investing €18.3 million in the expansion of its Helsinki-Vantaa Airport campus. The company is planning to build a new office building with rentable space of approximately 5,300 m² and a parking garage for 272 cars.
The new expansion phase will provide best-in-class environment for companies to operate and succeed. It is expected to be completed at the same time as the new Ring Railway which will connect the Helsinki-Vantaa campus to the airport as well as downtown Helsinki.
“The Helsinki-Vantaa campus has always been an excellent location for our customers. With the upcoming railway station and connecting bridge to our campus we can say that at the moment no one has a better location in the Airport area than Technopolis,” says Keith Silverang, Technopolis’ CEO. “We believe this gives the expansion investment an excellent starting point.”
The new building increases the campus’ rentable space to 25,500 m² and will have additional building rights of 33,300 m².
The Helsinki-Vantaa campus has a financial occupancy rate of over 91% and the market yield requirement is 7.4%. The expansion has a pre-let rate of 30 percent and the company estimates that its stabilized yield will reach 8 percent. The company has so far invested €1.9 million in the plot and planning.