Nordicum - Real Estate Annual Finland 2020 | Page 29
Sepänkatu 20 consists of five floors
above ground and two below; all premises
are easily modified according to companies’
needs. The business campus will boast an
impressive lobby, lounge and restaurant.
There will be conference rooms beside the
lobby and a unique setup of smaller offices.
Make It a Double
According to Lind, the first business cam-
pus, Ydinkeskusta (City Center), has been
such a great commercial success that Tech-
nopolis has been planning to “double the
fun” for quite some time now.
“In downtown Oulu, there is high
demand for modern, flexible office space,”
Lind says, adding that the retooling of the
city center has shaken things up a bit – in
a good way.
“The City of Oulu has a clear vision
about downtown and the means to see it
through,” Lind says, clearly pleased with
the dynamic, ‘can-do’ attitude.
According to Lind, Sepänkatu 20 is a
great choice for companies looking for mod-
ern and space-efficient office premises. For
instance, ventilation, lighting, telecommu-
nication solutions and acoustics are of the
highest standard, and space utilization effi-
ciency is top-notch as well.
Companies today also appreciate a
great location, he adds. “Technopolis Oulu
is located right in the heart of Oulu city
center. Campus is easy to access by train,
bus or car.” The railway station, for instance,
is only a ten-minute walk away.
Retail Renaissance
A major move was made in downtown Oulu
in the summer, as Trevian real estate fund
purchased the majority of the shopping
block Pekuri, formerly known as the Stock-
mann building. Located in the very heart of
the city by the Rotuaari pedestrian boule-
vard, the block features as much as 17,000
square meters of leasable space.
Commercial Director Tea Siivola from
Trevian says that the property in question
was highly attractive in the eyes of the real
estate fund.
Oulu – Fast Facts
– over 200,000 residents (250,000 in Oulu Region)
– growth in purchasing power during last 10 years among Finland’s strongest
– renewed university campus of 23,000 students kicks off in 2020
– average age of residents in Oulu Region youngest in Finland
– largest investment projects in coming years:
• Nallikari holiday resort +100 Meur
• Station center and areena +450 Meur
• Terwa Tower – seaside hotel +100 Meur
• Future Hospital 2030 projects +1,500 Meur
– office vacancy rate at the city centre 4,3 % (Q2/2019)
– retail vacancy rate at the city centre 5,8 % (Q2/2019)
“Pekuri is the number one spot in town,
featuring a lot of opportunities for develop-
ment,” she says.
The “battle plan” has already been
drawn out: the first floor is to feature stores,
the second floor will house entertainment
and a food garden and the top floors (3–5)
will be reserved for offices.
“Pekuri can accommodate about 1,000
office workers,” Siivola says.
Major Appeal
The beauty treatment of the venerable old
property, dating back to 1947, will not come
cheap: Siivola talks about Trevian investing
tens of millions of euros into the make-over.
“We want to open up the block and
make it more accessible and enjoyable to the
citizens,” she says, adding that the service
offering will get a serious upgrade, too. A
lot of international retail chains, for instance,
are interested to hear about the new direc-
tion of Pekuri and are now seriously con-
sidering Oulu for operations, perhaps for
the first time.
“We’ve had a lot of very good negotia-
tions and expecting new chains for tenants.”
More Opportunities to Come?
Trevian was active in the local real estate
market also in the spring, as it purchased
the Pauketie 2 property (6,210 sqm) which
houses a car dealership. Siivola says that
this year’s two purchases reflect the fact the
Oulu is an exciting, dynamic city in the eyes
of the real estate fund.
“We’re sure to be active again, as a
suitable opportunity presents itself,” she
says. In fact, Siivola says she has been
“positively surprised” by Oulu’s high-level
appeal of late:
“Talking with prospective tenants, it
is clear that they have been quite impressed
with Oulu’s recent development.”
Juha Ala-Mursula points out that Oulu
has some “extra edge” in the field of real
estate, too: the city boasts a series of Prop
Tech companies who use hi-tech to boost
the performance of buildings.
“Use of sensors and IoT is opening
new possibilities in real estate, for instance,
in lighting or safety solutions,” Ala-Mursula
comments. l
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