YIT has developed and built three significant logistics centres in Vantaa. The first logistics property, K3 West, was completed in 2020, and K3 North in early 2022, both in Vantaa’s Viinikkala district. The last of the three, VT4, was completed in Hakkila in August 2022. The three logistics properties have a combined floor area of 50,000 sqm. All three properties have already been sold to a real estate fund managed by DWS Group.
The K3 West and K3 North logistics properties were built in a 30-hectare area located between Ring Road III and Helsinki Airport. The area has been developed together with the City of Vantaa. The use of the area has been successfully increased many times over by providing many companies with very good business opportunities and, consequently, creating new jobs. In addition to the construction of the buildings, the development of the logistics area has included extensive excavation work as well as the planning and implementation of the internal streets.
The newly completed logistics centre VT4 Logistics is located in a developing hub of workplaces and land transport in Hakkila, close to the Lahti motorway. Construction began in autumn 2021 and the premises, with a total floor area of approximately 16,000 m2, were completed in August 2022. The modern new spatial solutions provide particularly good support for the terminal operations of large corporations, for whom automation and smooth flows of materials and traffic are vital.
“YIT has a strong track record of developing and implementing projects for investors and various types of tenants. The requirements and spatial needs of logistics customers have increased. In addition to needing warehouse premises, companies often need research and product development premises, cold storage, production facilities or office space, which can be located at the same property. In that case, it is important to understand not only the factors related to securing production processes but also the big picture and how the different parts work seamlessly together,” says Project Development Manager Anne Suojoki from YIT.
Sustainability is also reflected in customer requirements. In the design of logistics centres, sustainability is taken into consideration in energy efficiency solutions, choices of materials and provisions for solar panels, for example. The K3 area also features one of the first natural stormwater management systems. LEED Silver environmental certification has been sought for the new centres.
The tenants of the completed and almost fully leased out K3 and VT4 Logistics centres include Oda, which is an online grocery delivery company, as well as PostNord, the city of Helsinki, DAT-Schaub Finland and STO Finexter.
“These investments are attractive additions to our existing logistic portfolio in the Helsinki Metropolitan Area with strong technical specifications and environmental certification and in-line with our current preference on the logistic and residential sector in Finland,” says Martin Weikamp responsible for Real Estate Transactions Northern Europe at DWS.
“Over the past few years, property investors have shown growing interest in logistics premises in addition to housing. Demand for warehouse space has been boosted by the growth of e-commerce, but also by changes in the operations of international supply chains. The yield requirements of logistics properties have declined substantially also in Finland and, according to statistical data provided by KTI, 15% of the property transaction volume in 2021 was allocated to production-related premises, i.e. logistics and industrial properties, and the total value of the transactions was approximately EUR 1.1 billion,” says Ilkka Tomperi, Executive Vice President, Property Development at YIT.