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Technopolis to Sell Oulu Property


Technopolis to Sell Oulu Property

Technopolis Plc will sell its approximately 22,000 m² Lentokentäntie property and the remaining building rights to the Oulu-based firm Polarvi Oy. The property will be sold at the fair value and the sale price is EUR 6.7 million. The buyer will take over the property as of October 1, 2014.

The transaction will improve the financial occupancy rate of the Technopolis Oulu unit by 1.2 percentage points and that of the entire Group by 0.4 percentage points. At the end of June 2014 Oulu’s financial occupancy stood at 88.1% and the Group’s at 93.5%. In the aftermath of the deal Technopolis’ Oulu assets will decline from 218,000 m² to 196,000 m² and the number of campuses will drop from 6 to 5.

“The divestiture is part an overall adjustment to our real estate portfolio that is aimed at concentrating on larger campuses with better growth potential,” says Keith Silverang, CEO of Technopolis.

The buyer sees redevelopment opportunities. “The property has good tenants and operations will continue unchanged in that respect. The vacant premises in the property and its unused building rights create opportunities for developing the property and area in a variety of ways in the future,” says Juha Vikeväinen, CEO of Polarvi.

The majority of the price will be paid in cash and the rest with the buyer’s shares in the Kansankatu 53 property in downtown Oulu, representing 57% of the entire share capital of the company. The new downtown property will support Technopolis’ downtown campus, whose occupancy rate is close to 100%.

Technopolis Plc
Keith Silverang
Tel. +358 40 566 7785

Technopolis provides the best addresses for companies to operate and succeed in five countries in the Nordic-Baltic region. The company develops, owns and operates a chain of 21 smart business parks that combine services with flexible and modern office space. The company’s core value is to continuously exceed customer expectations by providing outstanding solutions to 1,700 companies and their 40,000 employees in Finland, Norway, Estonia, Russia and Lithuania. The Technopolis Plc share (TPS1V) is listed on NASDAQ OMX Helsinki.

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