NREP buys historic office building in Helsinki

NREP buys historic office building in Helsinki

NREP has acquired Eteläesplanadi 2, a landmark office building located next to the waterfront in Helsinki CBD, Finland from Allianz.

The historic building comprises approximately 14,500 sq m of leasable space and has 18 tenants including Borenius, Carnegie, Access Partners and Finlandia Group.

The property also features a restaurant, generous lobby, and underground parking.

NREP plans to enhance the property’s service concept and undertake an ongoing investment programme, with an emphasis on improving its environmental classification and increasing energy efficiency.

The asset will be operated by NREP’s flexible office team, Woods.

Completed in 1912, the office building in Helsinki was designed by architect Karl Håkan Einar Lindahl. In 1952, an extension designed by Ole Gripenberg was implemented to the building, which increased the amount of office space. The property served as the head office of the Finnish paper and pulp company UPM up until 2013.

Joonas Lemstöm, Finland Country Lead at NREP, said: “Eteläesplanadi 2 is a historically notable building, it aligns perfectly with our strategy which is to offer high quality offices in the strongest central locations, and where we can provide today’s modern occupiers with much needed sustainable, flexible and quality workspace, alongside a full-service offering.”

“Our goal is to upgrade the quality of this unique building to create an exceptional product for our customers. We aim to develop one of the most appealing offices in Helsinki CBD for leading corporates from a broad variety of sectors.”

Toke Clausen, Director of Office investments at NREP, said: “Our Office segment is growing, and we now manage close to 100 properties. We see a clear demand for modern, well-located and sustainable workplaces, and we want to become a leading provider of high-quality and flexible office spaces. With this acquisition, we now have four significant office properties in the Helsinki Metropolitan region,”