Sponda - Company Announcement

Sponda to develop an office and retail complex at Tikkurila railway station

Sponda Plc            Stock Exchange Release     29 June 2016, 9:00 a.m.

Sponda to develop an office and retail complex at Tikkurila railway station

The property investment company Sponda Plc will develop an office and retail
complex at Tikkurila railway station in Vantaa, Finland. The six-storey office
and retail property to be built at Väritehtaankatu 8 will complement the range
of services available in the developing district of Tikkurila and represent a
significant addition to the local cityscape. 

The project will be implemented in two phases, the first of which will begin
with excavation work in July 2016. The first phase will comprise a total of
9,500 square metres of leasable space, half of which will be office space and
the other half retail and service premises. The property will have indoor and
outdoor parking for 210 cars. The plan for the project’s second phase involves
the construction of a further 4,000 square metres of business premises. The
decision on commencing the second phase will be made later based on the
occupancy rate. 

The investment size of the project’s first phase, to be completed in March
2018, is estimated at approximately EUR 31 million. Approximately 57 per cent
of the premises have been leased to tenants, some of which include Lehto Group
Plc, Fitness24Seven, Majoituspalvelu Forenom and the restauranteur Kim Heiniö.
The project’s yield on cost is estimated at approximately 7.3 per cent. 

New business premises in a traffic hub

The new retail complex will be located to the east of Tikkurila station, in the
Jokiniemi area. Directly connected to Tikkurila railway station, the property
will offer tenant businesses excellent visibility and accessibility. Its
location in the immediate vicinity of one of Finland’s busiest railway stations
will also generate natural customer flows for tenants. 

Tikkurila is a rapidly developing growth centre and traffic hub whose public
transport connections were improved further by the completion of the Ring Rail
Line. The new property will support the district’s development and bring new
sought-after services to further increase Tikkurila’s appeal. 

Energy efficiency and environmentally friendly solutions will be emphasised in
the design and construction of the office and retail complex. Sponda will apply
for LEED® Gold environmental certification for the building. LEED® (Leadership
in Energy and Environmental Design) is an international building certification
system aimed at reducing the environmental load of properties during
construction and use. 

The project’s main contractor is Lehto Group Plc.


Sponda Plc


Additional information:
Veli-Pekka Tanhuanpää, Senior Vice President, Property Development, Sponda Plc,
tel. +358 40 700 9646 





Sponda Plc is a property investment company specialising in commercial
properties in the largest cities in Finland. Sponda’s business concept is to
own, lease and develop retail and office properties and shopping centres into
environments that promote the business success of its clients. The fair value
of Sponda’s investment properties is approximately EUR 3.7 billion and the
leasable area is around 1.2 million m2.