Hemsö develops new school in Finland

Hemsö is developing a new school of music in Finland, the Joensuu Conservatory. A 20-year rental agreement has been signed with the City of Joensuu. The investment amount is approximately SEK 140 million.

The new conservatory is Hemsö’s first establishment in Joensuu and will be built on the University of Eastern Finland campus. The conservatory is part of the City of Joensuu’s operations, which include practical music training. The total lettable area will be approximately 3,700 sqm.

“We are very pleased with the positive and smooth cooperation we have experienced with various parties. The new conservatory is an important development project for us, in a lively university city that also offers opportunities for other investments in Joensuu. Hemsö is planning to continue developing music and concert facilities in partnership with public-sector tenants and we recently completed the refurbishment of the Sibelius Academy in Helsinki,” says Simo Karjalainen, Project Developer, Hemsö.

The conservatory will accommodate a 250-seat music room and a rehearsal room for 100 musicians. In addition to these rooms, teaching rooms will also be created in the building.

“I have been involved in planning how the spatial needs in the conservatory can be solved in various roles for over ten years. There have been many ideas along the way, and a number of concrete alternatives have also been analysed. I am really happy that this cultural project is now moving forward in partnership with Hemsö. Our strength is our university campus, which is closely connected with the city centre, and this will be strengthened by the solution together with Hemsö,” says Janna Puumalainen, Head of Development, City of Joensuu.

The contract will be procured as a turnkey contract. Construction start-up is scheduled for the second quarter 2020, and completion for the third quarter 2021. The building will be constructed to meet high technical standards and hold BREEAM certification with a Very Good rating.

For more information, please contact:

Nils Styf, CEO                                            + 46 8 501 170 01

Simo Karjalainen, Project Developer         +358 400 766 664

Hemsö is Sweden’s leading private owner of properties for community services. The business is based on owning, managing and developing properties for nursing homes, education, health care and premises for the judicial system. Hemsö has properties in Sweden, Germany and Finland. The hallmarks of Hemsö’s business are long-term leases and stable tenants. The Third Swedish National Pension Fund is the majority owner. The total value of Hemsö’s property portfolio is SEK 57.3 billion. Hemsö’s credit rating from Standard & Poor’s has been A- since March 2015 while it has an A rating from Fitch Ratings since April 2020. More information can be found at: www.hemso.se