The Sampotalo building, located along the pedestrian street Yliopistonkatu, spans over a lettable area of approximately 10,400 square meters. All office spaces within the premises have been leased to the public sector anchor tenant, City of Turku, under a long lease agreement. Additionally, Sampotalo has some retail space, conveniently positioned on the ground level.

Antti Muilu, Country Manager at Niam states:

“It is a rare opportunity to acquire a landmark office property in the central district of Turku. We are very pleased with the high quality of Sampotalo, and the acquisition aligns well with our recent investment in the Lyyra office building in Helsinki.”

Sampotalo, an iconic functionalist building, was built in 1937-1938 and was designed by architect Erik Bryggman to serve as the headquarter of the insurance company Sampo. Over the years the building has been extended and renovated several times and the latest large refurbishment has just been completed. Through the refurbishment Sampotalo received Breeam excellent rating and is now a modern, sustainable office space, tailored to the needs of the office occupier, City of Turku.

The successful divestment of Sampotalo marks a significant milestone for the SNREF, creating performance and liquidity for the shareholders. The fund team will continue to focus on creating value on the existing portfolio and future opportunities in the Finnish market. The transformation and subsequent divestment of Sampotalo is testament to Schroders Capital’s team dedication to operational excellence, innovation and execution capabilities to deliver performance for its clients.

Johan Bråkenhielm, Head of Nordics Real Estate, Schroders Capital, said:

“We are pleased to have achieved such a successful outcome for our clients with the transformation, lease up and subsequent sale of Sampotalo. We believe this reflects our unwavering commitment to innovation and operational excellence. The project was a remarkable transformation of a typical 1940s building into a modern, sustainable office space, tailored to the needs of the future workforce. While Sampotalo holds a special place in our journey, Finland remains an integral market for us, with promising opportunities ahead."

Lars Blanke, Head of Asset Management Nordics, Schroders Capital, said:

"Sampotalo's metamorphosis is a testament to our teams dedication to reshaping the way people engage within workspaces. The partnership with the City of Turku was instrumental in creating a space that truly embodies the future of office design. We are pleased that Niam, the new owner, shares our vision for Sampotalo and we are confident that they will continue to build on the success of the project."