Technopolis Expands in Tampere
Finland Technopolis has decided on EUR 46 million investment in organic expansion in Tampere, Finland. The new City Center Campus will be built in the CBD Tampere with excellent connections. Construction work is scheduled to start in February 2018, after the receipt of a building permit by City of Tampere. Project is due for completion in December 2019, and first leases are set to start on Jan 1, 2020.
The City Center campus will have a rentable area of 13,200 sqm upon completion, and the pre-let rate at present is 34 percent. The campus will also have a parking facility with some 120 parking spaces. The initial net rental yield of the project is estimated at 6.4 percent and stabilized yield at 7.9 percent. City Center campus is on track to achieve Gold-level LEED (Leadership in Energy and Environmental Design) certificate.
“I am truly excited about having this new high-profile campus in CBD Tampere with excellent location, just five minutes from the railway station and the main streets. In CBD Tampere, there is growing demand for well-functioning, quality office space with value-adding services. The high occupancy (95 percent) of our other CBD campus combined with a 34 percent pre-let rate gives us confidence in the success of this project”, says Henri Rantalainen, Director, Tampere operations of Technopolis.