YIT sells an office building in Helsinki city centre, Finland

INVESTOR NEWS                 NOVEMBER 13, 2015 AT 1:00 P.M.

 

YIT sells an office building in Helsinki city centre, Finland

YIT has signed an agreement on the sale of an office building located in Helsinki city centre to non-UCITS Fund OP-Vuokratuotto. The total value of the agreement is approximately EUR 23 million. The anchor tenant of the building is Lexia Attorneys Ltd.

YIT bought the office building located in Lönnrotinkatu 11 in summer 2014 and started the renovation of the building in summer 2015. In the renovation, the old office building built in 1972 will be renovated to meet the requirements of a modern office. The renovation will remarkably improve the energy efficiency of the building, and a LEED environmental certificate will be applied for the project. After the renovation, the building will include approximately 4,000 square metres of convertible office space in five floors and approximately 400 square metres of commercial space in the street level. 40 parking spaces will be available. The renovation will be completed in autumn 2016. 

 “OP-Vuokratuotto is building a network of business premises that is well diversified in terms of purpose of use and location. By acquiring this premise we will be able to provide modern office space in Helsinki city centre to companies of different size, which will also give us an excellent tenant diversification,” tells Markku Mäkiaho, CEO, Pohjola Property Management Ltd.

 

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations and M&A, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel. +358 400 460 913, seppo.martikainen@yit.fi

 

YIT CORPORATION

 

Sanna Kaje
Vice President, Investor Relations and M&A

Distribution: NASDAQ OMX, major media, www.yitgroup.com

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. Over 100 years of experience have secured us a strong market position: we are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while taking care of our customers, partners and personnel. We have nearly 6,000 employees in eight countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com

About Us

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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