YIT sells the Kankaan Arkki office property in Jyväskylä, Finland — the office block is a combination of modern business premises in an old industrial setting in the growing Kangas area

YIT CORPORATION Press release April 3, 2020 at 3:00 p.m.

YIT and the Non-UCITS fund Aktia Commercial properties have signed an agreement on the sale of the Kankaan Arkki office property in Jyväskylä. The construction of Kankaan Arkki began in January 2020 and is scheduled to be completed in February 2021. The value of the agreement is approximately EUR 16 million.

The total floor area of the seven-storey Kankaan Arkki is over 7,000 square metres, 80% of which has been leased out. The new premises consist of flexible multifunctional space. Special attention has been paid to the indoor air quality, energy efficiency and functionality of the premises. The future tenants of the modern office building include Accountor, Juvenes, Monetra, Yritystehdas and YIT.

“Jyväskylä is a developing university city in central Finland. Kankaan Arkki’s location in a rapidly developing area of Jyväskylä and the property’s special characteristics and tenancy agreements made this an attractive project for us to get involved in. The property’s long-term rental cash flow divided between several reliable tenants provides excellent support for the objectives of our commercial property fund in the long run. That makes this property an excellent addition to our real estate portfolio. We have strong confidence in the future of Kankaan Arkki,” says Jukka Sjösten from Aktia.

The companies in Kankaan Arkki will have the opportunity to use various services in the Kangas area, including car sharing and shared meeting facilities. There will be a lunch restaurant in the entrance hall that will also serve local residents and visitors to the building. 

“For a long time now, there has been a need for modern office premises in the Kangas area, and this project has been met with strong interest from companies in the area. That is hardly surprising, considering that Kankaan Arkki has an advantageous location for both companies and their employees. It is situated in the immediate vicinity of Jyväskylä’s city centre, but the environment has plenty of natural beauty,” says Marjaana Nissilä-Ryytty from YIT.

Kankaan Arkki is located next to the old Kangas paper mill by the River Tourujoki. The old industrial setting and modern office space will create an attractive combination of today’s business premises technology and the rich history of the site.

Kangas is a rapidly growing and developing area. In the future, there will be 2,100 jobs and 5,000 residents in Kangas.

YIT announced the launch of the construction of Kankaan Arkki on January 10, 2020.

For further information, please contact:
 

Marjaana Nissilä-Ryytty, Vice President, Jyväskylä and Mikkeli, YIT, tel. +358 50 5600 753, marjaana.nissila-ryytty@yit.fi

Arja Korhonen, Communications Manager, tel. +358 40 5545 806, arja.korhonen@yit.fi

Jukka Sjösten, Real Estate Portfolio Manager, Aktia Asset Management Ltd, tel. +358 10 247 8413, jukka.sjosten@aktia.fi

Distribution: Major media, www.yitgroup.com

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com