Union Investment has acquired a top office property in Helsinki's Ilmala district, a constantly developing, modern location not far from the city centre. In addition to excellent public transport links, the location is also close to various cultural and sports venues. The "Aura" office project was purchased for the open-ended real estate special fund UniInstitutional EuropeanM. The seller is the Finnish project developer and general contractor Hartela Etela-Suomi Oy, which will construct the building by June 2024. The parties have agreed not to disclose the purchase price.
"Helsinki is a metropolitan region with a high wealth factor and an economically strong macro location. The vacancy rate at the Ilmala location is less than 1%. Together with the attractive design and architecture of the building, this means that the conditions are ideal for good, long-term letting," said Kubilay Ozbisikletci, Senior Investment Manager Nordics at Union Investment.
Of the approximately 11,500m² of lettable space, about 9,000m² is office space distributed from the ground floor to the 5th floor. The rest is retail and restaurant space as well as a fitness studio. However, these spaces can be converted into office space without changing the building plan. In the basement, there are 97 physical parking spaces or 121 parking rights and 80 bicycle parking spaces. LEED Gold certification is planned. The 3rd to 5th floors have already been leased for 15 years to a state-owned company.
