Cityvarasto Has Acquired a Major Property Complex in Turku
Cityvarasto Plc | Press Release | 27 April, 2026, at 6.00 p.m EEST.
Cityvarasto Has Acquired a Major Property Complex in Turku
Cityvarasto Plc continues its growth in the Turku region and has acquired real estate company Sumo Tierankatu 5 Oy from an international investor. The company holds a land lease at Tierankatu 5a / Sampsankatu 7. The transaction includes the land lease right to a leased plot of approximately 15,000 m², as well as seven buildings located on the site, with a total floor area of approximately 8,400 m².
The property has been used mainly for industrial purposes and includes a diverse range of production, warehouse, and office spaces. Cityvarasto’s goal is to open a modern self-storage hotel on the site by the end of 2026, responding to the growing demand for storage solutions in the Turku area.
“Turku is a strategically important growth city for us, and we want to invest in areas with a clear development trajectory. Itäharju is exactly that: urban, evolving, and full of potential. The planned tramline for the area further supports this development,” says Ville Stenroos, CEO of Cityvarasto.
Itäharju is part of a rapidly developing area of the City of Turku and a key component of the expansion of the Turku Science Park. The area is emerging as one of Finland’s most significant growth hubs for jobs, housing, and services.
Cityvarasto already has a strong presence in the Turku region through several locations (Pitkämäki, Mälikkälä, Kärsämäki, Naantali, and Salo). The new Itäharju site will be the company’s eighth location in the area and further strengthens its goal of being close to customers.
“The Turku region is already a strong area for us, and this investment brings us even closer to our customers’ everyday lives. Once we open our Itäharju location, we will be even more accessible. Already, approximately 88 percent of Turku’s residents live within a 15-minute distance of a Cityvarasto location (Source: Statistics Finland, ESRI),” the CEO says.
The company is known for its digital “one-stop-shop” service model, where renting a storage unit and purchasing additional services are handled entirely online. Customers can select a storage unit, sign the agreement, and flexibly use services such as PakuOvelle.com according to their own schedules.
“The demand for self-storage is not just a temporary phenomenon; it is driven by everyday changes and megatrends. When everything doesn’t fit at home, smart additional space solutions are needed and that is exactly what we provide,” the CEO concludes.
Further enquiries
Ville Stenroos, CEO, Cityvarasto Plc, tel. +358 29 123 4747
Information about Cityvarasto
Cityvarasto is a Finnish company established in 1999, operating in the self-storage sector. In addition to the parent company Cityvarasto Plc, the Cityvarasto Group includes, as its principal subsidiaries, PakuOvelle.com Oy, which specialises in van rentals, as well as moving services companies Suomen Opiskelijamuutot Oy and Ja-Ki Muutto Oy. The company’s shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol CITYVA.