The 6-storey office building is the latest of four office projects in the submarket of Töölönlahti, which is part of Helsinki's CBD, close to Helsinki main station.

The building was completed in May 2014, and 70 per cent of it has been leased to EY. The total floor space available for lease in the building is 10,888 sqm. The building has been granted Gold Leed environmental certification. The purchase price was approximately € 93.3 million. 

The new office district close to Helsinki main station offers excellent traffic connections and shopping facilities. A public library and residential buildings will complete the mixed-use character of the scheme in the next few years.

“We are extremely pleased with the outcome of the Töölönlahti office building project. The four buildings together form an important new office area in the heart of Helsinki. Investors are currently very interested in sites like these, so we decided to sell one of the buildings in order to reduce the weight of offices in our portfolio,” says Etera’s Head of Real Estate, Timo Sotavalta.

“The office market Töölönlahti benefits clearly from the lack of high-class and modern buildings in Helsinki's CBD. This results to high prelettings in nearly all the new builts”, says Philipp La Pierre, Head of Investment Management Europe at Union Investment Real Estate GmbH.

Including the E&Y Headquarter, the Union Investment portfolio in Helsinki today comprises eleven properties with a total value of some € 460 million.

CBRE Finland Oy acted as exclusive sales advisor to the seller while Merilampi Attorneys Ltd provided legal advice to the seller and Roschier Attorneys Ltd to the buyer.