Trevian-managed development of Duetto Business Park succeeds beyond expectations - occupancy rate rises despite COVID era challenges
The large-scale development project implemented at the Helsinki Duetto Business Park has been completed on schedule. Located in Helsinki and managed by Trevian Asset Management, 85% of Duetto's office space has already been filled. Duetto has been selected as their location of choice by among others Huawei, Danfoss, Greencarrier, Fingrid, Atria, and Man in Van.
Trevian carried out the Duetto renovation project as the local partner of the international owner. The development team renovated the premises to modernize the business park, increase our occupiers’ wellbeing and attract new tenants. Trevian is a recognized expert in real estate development projects and the rebranding of business parks in Finland.
Duetto's occupancy rate has risen to 85% from 70% a year ago, despite the growing popularity of working from home. In addition to new leases, several extensions have been signed to the existing leases during this period demonstrating the positive improvements made to the building.
Trevian carried out the renovation project with a modern, high-quality but welcoming approach, with the aim to create more conveniences in the business park to support our occupiers' work efficiency and wellbeing. Further Improvement works will be made shortly with the introduction of more solutions for advanced electric car charging and commuting by bicycle. Duetto has also applied for BREEAM certification.
– Although office work has been in a state of emergency almost throughout Europe, we have taken Duetto forward even more effectively than planned. The business park's location along important highways, outside the downtown area, has played a significant role in its success, and it has been one of the most critical selection criteria for our customers. It also seems that comfort and attractiveness of office space are now central to many as a counterbalance to teleworking, says Duetto's asset manager Outi Kymäläinen from Trevian.
– Duetto has been a strategic success for Trevian, backed by a mutual trust with the owner. In line with the company strategy, Trevian has taken overall responsibility for the property without decentralizing it to several operators. Implementing such a project has required both technical and marketing management from Trevian to support the asset manager. This approach has received high praise from the investor and enabled rapid decision-making and cost efficiency, says Risto Vuorenrinne, Trevian's Investment Director.
Additional information:
Risto Vuorenrinne
Investment Director
Trevian Asset Management
+358 50 313 9350
risto.vuorenrinne@trevian.fi
Trevian Asset Management Oy is a Finnish investment and asset management company specializing in commercial and residential properties. The company was established in 2012 and is owned by its key personnel. The company produces actively managed real estate equity funds and asset management services optimized for its customers. The services are focused especially for institutional real estate investors, banks, and other professional investors. Trevian’s assets under management near 1.0B€. www.trevian.fi/en/
