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Varma bought the Eteläesplanadi 8 office property in Helsinki

Varma has bought a property located in the very center of Helsinki, at the address Eteläesplanadi 8, for around 41 million euros. The seller of Kiinteistö Oy Ornant was the Fennia Mutual Insurance Company.

Etelaesplanadi-8

In the office building, which is on the corner of Eteläesplanadi and Fabianinkatu, there is approximately 5,400 m² of leasable office and retail premises and approximately 1,300 m² of premises for conferences and other shared use. In addition to these, there is plenty of storage space available and a 26-space parking garage.

"The office property of Eteläesplanadi 8 is well suited for Varma's direct real estate portfolio and supplements our offering of premises with a prized site in the city center. We have named the property Amanda and are finishing off the details of the building to its new splendor. We believe that the spacious floor plan solutions made possible by the modern multi-premises offices of the building and the stately entrance create an excellent environment for the modern space requirements of companies," says Ilkka Tomperi, the Investment Director responsible for the properties of Varma.

The old side of the building, designed by the architects Kiseleff & Heikel, was built in 1884 and it was expanded with the part designed by Jaakko and Kaarina Laapotti in 1977. A significant complete renovation is now being completed for the building and the property has been connected to the district cooling network.

The site has an excellent and central location in the center of Helsinki and it offers high-class facilities in terms of its profile for its users and their visitors.

"The sale of the property is a part of our normal portfolio management, the aim of which is to form a diverse and well-dispersed real estate investment portfolio for Fennia. There was plenty of demand focused on the property, both domestic and foreign. It's great that this prized site found its new home in the portfolio of a well-established Finnish investor," says Timo Rantala, the Director of Real Estate Business at Fennia Asset Management.

One of the first office tenants of Amanda is Pankaboard Corp., which has already moved in. The Pompier Espa restaurant and Auratum Inc. are operating in the retail premises of the site. The gym is run by HealthShape Inc. The leasing of the unoccupied premises of the site will begin immediately.

The Varma Mutual Insurance Company is a responsible and financially sound investor. The company is responsible for the employment pension insurance of approximately 878,000 in the private sector. In 2016, Varma's revenue was 4.7 billion euros and the company paid out pensions of 5.3. billion euros. The value of Varma's investments was 45.4 billion euros at the end of September 2017.

Further information:
Ilkka Tomperi, Investment Director, properties, tel. 050 379 1903, ilkka.tomperi@varma.fi
Leena Rantasalo, Communications Manager, tel. 050 300 7980, leena.rantasalo@varma.fi

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