YIT’s newest MotorCenter being built next to Ring Road I in Helsinki
YIT CORPORATION Press release, December 21, 2017, at 10:00 a.m.
YIT is building the first Ring Road I MotorCenter in northern Helsinki. The new project, located in the border zone of the districts of Pukinmäki and Oulunkylä, is already under construction and will be completed in spring 2018. The area of MotorCenter Oulunkylä is nearly 3,000 square metres. The property is owned by Erikoissijoitusrahasto Fennica Toimitilat, a fund managed by Fennia Asset Management Ltd.
MotorCenter Oulunkylä is in a prominent business location at Isonpellontie 7, next to the junction of Ring Road I and Käskynhaltijantie. In the future, commuters and local residents will find all the services needed by a motorist on their way home: cars can be inspected in CityKatsastus, serviced in Helsingin Diesel and washed in Quick Wash Autopesut. The service offering is further complemented by the HVAC wholesaler Onninen Express. The motorists themselves can charge their batteries at BURGER KING®. The renting of retail premises has proceeded very well and there is only one retail unit vacant.
“MotorCenter Oulunkylä is already the seventh motorist service centre based on the MotorCenter concept developed by YIT. The world-class restaurant brand BURGER KING®, with its drive-through, complements the entity perfectly. Once it opens in May 2018, MotorCenter Oulunkylä will significantly improve the motorist service offering in the area, and its location next to Ring Road I with its major customer flows will help all tenants succeed,” says Timo Lehmus Head of the Business Premises and Infrastructure segment at YIT Corporation.
“In line with its strategy, the Erikoissijoitusrahasto Fennica Toimitilat I fund invests in properties that will, in the longer term, generate as stable incoming cash flow and value development as possible, regardless of economic cycles. This property that is in a very prominent and central location in Helsinki, with its business idea of serving people on the move, is a prime example of this strategy. We believe that the property strengthens our fund portfolio and meets the needs of our investors,” comments Timo Rantala, Director, Real Estate at Fennia Asset Management Ltd.
MotorCenter is a service concept developed by YIT. It is focused on providing products and services for motorists as well as in the areas of technical specialty retail and active leisure time. MotorCenter Oulunkylä is the seventh service centre based on this concept that is under construction or in operation and serves its customers in recurring needs near their place of residence or along their daily commute.
https://www.yit.fi/en/business-premises/retail-premises/motorcenter
For further information, please contact:
Timo Lehmus, Head of the Business Premises and Infrastructure segment, YIT Corporation, tel. +358 400 409 181, timo.lehmus@yit.fi
Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 40 561 6568, hanna.malmivaara@yit.fi
YIT creates a better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life into sustainable cities. We want to focus on caring for customers, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion and we employ about 5,300 people. Our share is listed on Nasdaq Helsinki. www.yitgroup.com
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