YIT HAS SOLD SHOPPING QUARTER ATOMI TO BRITISH PROPERTY INVESTOR BOULTBEE
YIT Construction Ltd has sold the city centre project Kauppakortteli Atomi, located at Riihimäki, to a British property investment company, Boultbee. The total size of the complex is approximately 25,000 sq.m, and it will be completed in several different stages. The total purchase price is approximately EUR 80 million.
The shopping quarter Atomi is currently one of the largest city centre development projects in Finland. The total area of the facilities will amount to approximately 40,000 sq.m, including Osuuskauppa Hämeenmaa´s Prisma shopping centre. The area will include a diversity of shops and leisure time and cultural activities, as well as a centre for public transportation.
The first construction stage of the shopping quarter Atomi is already in progress. It consists of the Prisma shopping centre contracted by YIT and of the shopping centre Elektroni developed and built by YIT. Both of the premises will be completed in November 2007. Elektroni will host fashion and clothing shops that support the Prisma shopping centre. Most of its facilities are already leased.
The next construction stages of shopping quarter Atomi consist of Riihimäki Travel Centre and Retail Park Neutroni, which focuses on interior decoration.
THE TOWN OF RIIHIMÄKI WILL OCCUPY THE TRAVEL CENTRE
The town of Riihimäki and YIT Construction Ltd have signed a lease contract whereby town will occupy the Travel Centre's office facilities. The centre will also include city-owned “park and ride” parking lots and a new bus station for both local and intercity busses. Travel Centre´s facilities consists also diversity of commercial premises.
BRITISH PROPERTY INVESTOR HAS CONFIDENCE IN FINNISH PROPERTY MARKET
One of Europe's fastest growing private property investment companies, Boultbee, is leading the way in Nordic investment after purchasing a variety of properties in Finland and Sweden over the past eighteen months. The group now holds and manages around 80 companies across Europe, including the Kamppi Centre in Helsinki which was purchased for €345 million in 2006.
Veikko Myllyperkiö Vice President, Corporate Communications
Distribution: Helsinki Stock Exchange, principal media, www.yitgroup.com
Further information: YIT Construction Ltd, Seppo Martikainen, Vice President, Transactions, tel.+358 20 433 2905, firstname.lastname@example.org
YIT Construction Ltd, Hannu Lokka, Vice President, Business Premises, Southern Finland, tel. +358 20 433 2552, email@example.com Boultbee, EFM Suomi Oy, Managing Director Tuomas Sahi, tel.+358 40 090 7877, firstname.lastname@example.org Boultbee, Nigel Jeffery, Director, tel. +44 (0) 20 7349 8585, email@example.com
Images of the site are available on YIT's Web pages at www.yitgroup.com
YIT is a versatile service company that offers technical infrastructure investment and upkeep services for the property and construction sector, industry and telecommunications. In all sectors of operations, the Group's services cover the entire life cycle of projects. YIT's main market areas are the Nordic countries, the Baltic States and Russia. The group has over 22,000 employees in eight countries. YIT's share is quoted on the Nordic List on the Helsinki Stock Exchange in the Large Cap market capitalization group. www.yit.fi
Boultbee is a leading private property investment company founded in 1987 by two brothers - Steve and Clive Boultbee Brooks. Focussing on innovative long-term investment in shopping centres, supermarkets and offices across Northern Europe, Boultbee has continually expanded over the years and now has a current portfolio worth EUR 2.1 billion. For more information about Boultbee please visit their website at www.boultbee.co.uk.