TECHNOPOLIS PLC STOCK EXCHANGE RELEASE February 12, 2013, at 11:16 a.m.
Technopolis Buys Nokia Campus in Oulu
Technopolis has acquired Nokia’s Peltola campus in Oulu. The rentable space of the campus totals approximately 37,600 sqm and includes a parking garage with 800 parking spaces. The total investment is EUR 31.7 million.
The campus, suitable as a multi-user environment, is being sold by Nokia, which will lease approximately 17,400 sqm of space from the campus under a long-term lease. Following the transaction, Nokia’s share of Technopolis’ net sales will remain below 3%.
The financial occupancy rate of the campus will be 64% from the beginning of the second half of the year based on existing leases and prelets. Technopolis believes that it can increase the financial occupancy rate of the campus to more than 90% within two years, increasing the net rental yield to over 11%. Current market yield is 8.5%.
The acquired properties are modern, flexible, and complement Technopolis’ existing 27,000 sqm Kontinkangas campus in the area. The two properties combined will offer 64,600 sqm of space.
Kontinkangas is a growing hospital, university and business district developing future health services, among other sectors. Over 100 organizations in the fields of ICT, biosciences, health and well-being operate in the area. The City of Oulu aims to create 700 new jobs in Kontinkangas by 2016.
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