Technopolis Invests EUR 25M in Campus Expansion in Oulu
Technopolis has decided on a EUR 25M investment to expand its CBD campus in Oulu. Construction work is scheduled to start in July 2018, after receiving a building permit. The project is due for completion in March 2020.
The second phase will add another 8,400 square meters to the campus, bringing the total rentable area to over 19,000 square meters. The project will also bring an additional parking garage and the total number of parking places to over 400. The initial yield of the project is estimated at 7.2 percent and the stabilized yield at 8.4 percent. The new building is on track to achieve a Gold-level Leed certificate.
“We are excited about being able to extend our offering in CBD Oulu and finish the campus. Our existing City Center building’s vacancy is well below the Oulu CBD market average, which gives us confidence in the success of this project. There is clearly demand for modern, flexible office space with a range of services for both companies and employees,” says Marko Lind, Director, Oulu operations of Technopolis Plc.
Maria Olsson Äärlaht