YIT Construction Ltd and Julius Tallberg-Kiinteistöt have concluded a contract for the construction of the Suomalaistentie Retail Centre at Suomalaistentie 5 in Espoo’s Suomenoja. YIT and Tallberg-Kiinteistöt have been developing the project in close cooperation. In addition to construction, YIT will be responsible for the concept planning and renting of the property. The value of the contract is approximately EUR 16 million. Construction work has begun and the project will be completed in spring 2015.
The Suomalaistentie Retail Centre will have two floors and an area of roughly 8,200 square metres. The retail centre will have parking spaces for over 200 cars. Access to the parking lot will be from both Suomalaistentie and Finnoontie.
The main operator in the retail centre will be XXL Sports & Outdoor with premises of over 4,000 square metres. XXL is an international sports and outdoor chain that operates in Norway and Sweden—and now also in Finland. Other outdoor shops and a restaurant will be located in the Finnoontie side of the retail centre.
Premises in the Suomalaistentie side of the retail centre will be occupied by MotorCenter. Businesses there will include a Fixus spare parts store and garage, K1-Katsastajat, Teknorengas and Carwash. MotorCenter is a service concept developed by YIT. It is focused on providing products and services for motorists as well as in the areas of technical specialty retail and active leisure time. The Suomalaistentie project is the seventh service centre under the MotorCenter concept that is currently under construction or already in operation.
‘The Suomalaistentie Retail Centre is strong evidence of YIT’s extensive know-how and long-term investor commitment. This project is the second joint undertaking with Tallberg based on the same concept,’ says Vice President Heikki K. Hannukkala from YIT.
‘With the long-term leases associated with this project, the total aggregate of lease agreements at Tallberg-Kiinteistöt will increase significantly, reaching an all-time high in the company’s history, while, at the same time, the property portfolio of the company will become more diverse,’ says Hannu Vuorela, CEO of Tallberg-Kiinteistöt.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, firstname.lastname@example.org
Heikki K. Hannukkala, Vice President, Business Construction Services, YIT Construction Ltd, tel. +358 40 551 5940, email@example.com
Hannu Vuorela, CEO, Julius Tallberg–Kiinteistöt Oyj, tel. +358 500 218 216, firstname.lastname@example.org
Images of the project site can be downloaded at:
YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2012, our revenue amounted to approximately EUR 2 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com.
Julius Tallberg-Kiinteistöt Oyj, founded in 1987, is a real estate investment company engaged in property investment and development in the Helsinki metropolitan area and its surrounding area. The company is a subsidiary of Oy Julius Tallberg Ab. Read more at www.jtkoyj.com.