Nyfosa acquires property in Finland for MSEK 123

Nyfosa has acquired an office property that is under construction in the Finnish regional city of Kuopio. The acquisition price amounts to MEUR 11.9, corresponding to approximately MSEK 123, with an annual rental value of MEUR 1.05, corresponding to approximately MSEK 10.8. Seller and developer of the property is Lapti.

Upon completion, the property will be part of a new landmark in the regional city of Kuopio, strategically and centrally located next to the railway station and travel center. The future tenant base will mainly consist of offices and grocery retail, with the largest tenant being Finland's most dominant grocery chain Kesko. The property will have a leasable area of approximately 4.5 thousand square meters. To date, approximately 76 percent of the area is leased with an average remaining contract period of 9.4 years and a contract structure where the tenants bear most of the running costs. The property will be certified according to LEED Gold. The property will be accessed upon completion, which is estimated for March/April 2022.

“We are acquiring a completely newly produced property in Kuopio, a strong regional city with university in eastern Finland. This is a high-quality addition to Nyfosa’s portfolio in Finland,” comments Stina Lindh Hök, CEO of Nyfosa.