Technopolis to Invest EUR 39 Million in Organic Expansion in Kuopio and Tampere in Finland
TECHNOPOLIS PLC INVESTOR NEWS August 23, 2018 at 9:10 a.m. EEST
Technopolis to Invest EUR 39 Million in Organic Expansion in Kuopio and Tampere in Finland
Technopolis will invest a total of EUR 39.3 million in organic expansion in its existing campuses in the Finnish cities of Kuopio and Tampere.
In Kuopio, a total of 6,800 m2 will be added to the Technopolis’ Microkatu Campus. The value of the investment is EUR 12.1 million and the stabilized yield is estimated at 10.4%. Construction is scheduled to start immediately and to be completed in August 2019. The pre-let rate is currently 66.6%.
In Tampere, the second phase of the City Center Campus will be built as an extension to the first, the construction of which started in February 2018. The value of the second phase investment is EUR 27.2 million and the estimated stabilized yield is 7.8%. This phase will add another 7,300 m2 in rentable area, bringing the total to 20,500 m² upon completion of the campus, which will also have a parking facility with 120 parking spaces. Construction work of the second phase is scheduled to start in September 2018, and to be completed in July 2020. The pre-let rate of the first phase is currently 41.9%. The second phase has no signed pre-lets yet, but the prospect pipeline is strong.
“Strong macroeconomic performance in our markets is enabling this organic expansion, and we are pleased, since the organic growth projects are strongly accretive, they support internal campus growth, and bring efficiencies to our existing operations”, says Keith Silverang, CEO of Technopolis.
The Microkatu Campus in Kuopio and the City Center Campus in Tampere are both on track to achieve Gold-level LEED (Leadership in Energy and Environmental Design) certificates.
Technopolis Plc
Further information:
Keith Silverang
CEO
Tel. +358 40 566 7785
Technopolis is a shared workspace expert. We provide and flexible offices, coworking spaces and everything that goes with them. Our services run from designing the workspace to reception, meeting solutions, restaurants and cleaning. We are obsessed with customer satisfaction and value creation. Our 17 campuses host 1,600 companies with 50,000 employees in six countries within the Nordic and Baltic Sea region. Technopolis Plc (TPS1V) is listed on Nasdaq Helsinki. www.technopolis.fi/en