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Technopolis Expands to Sweden by Acquiring a Campus for Nearly EUR 130 million

The Finnish real estate company Technopolis is expanding into the Swedish market by acquiring a campus in Gothenburg which will be named Technopolis Gårda. The agreement signed today covers 34,300 square meters and the purchase price is about EUR 126,6 million (SEK 1,177 million).

”We have been looking for a suitable campus in Sweden for a long time and now our patience has been rewarded. We have a very clear growth strategy and we follow strict criteria in our acquisitions. The Gårda campus in Gothenburg is a perfect addition to Technopolis’ existing network of 20 campuses”, says Keith Silverang, CEO of Technopolis.

Silverang says the acquisition opens up new opportunities for the company on the Swedish market. “We have already successfully exported Technopolis’ customer-oriented office space and service concept to four countries in addition to Finland. Now we have for the first time the opportunity to test our concept in the advanced Swedish market. I’m confident that we will succeed there too.”

The acquired campus is located in Gårda, in the inner city of Gothenburg. The area is the city´s fastest growing cluster of offices, where vacancy is below four per cent. “Gothenburg is the same size as Helsinki and is growing strongly. We found an excellent campus only a 15-minute walk away from the central railway station, just across from Ullevi Stadium which is well-known also to many Finnish sports and music fans. The location and the expansion potential offer many opportunities to develop the campus further”, says Karita Huotari, International Growth Manager at Technopolis.

Being close to the customer is important for Technopolis and the company will start recruiting in Sweden immediately. The campus customers include Telia, Fujitsu and GoExcellent.

”We will continue to expand both in Sweden and in our other target markets in the Nordic-Baltic region when we find campuses that match our investment criteria. This acquisition supports our target of 10 % annual growth in net sales for the strategy period 2015–2020”, says Otso Halsti, Investment Officer at Technopolis.

Read more about Technopolis Gårda at www.technopolis.fi/en/garda.