Sponda Plc Press release 3 June 2011, 11:00 a.m.
Sponda to renovate Kauppa-Häme in Tampere into a modern retail and office property
Property investment company Sponda Plc will renovate the Kauppa-Häme building it purchased from the City of Tampere in early 2011 into a functional, modern and pleasant retail and office property. The project also aims to make central Tampere increasingly attractive and appealing by facilitating the provision of a broader range of services. The property is centrally located in the heart of Tampere, at Hämeenkatu 16.
Sponda will invest approximately EUR 6 million into the renovation of the property, which was originally built in 1965. The project to renovate the decades-old building into attractive retail and office space meeting today's standards will start in June 2011. The property will get a facelift that will also benefit the urban environment around it. This will particularly be reflected in a renovation of the facade of the retail space on the property. Upon completion, the renewed property will be more attractive to customers and reinvigorate Tampere's central business district.
The property comprises a total floor space of some 5,500 square metres, divided into 3,000 square metres of retail space and 2,500 square metres of office space. The retail units will be on the first two floors, while the open plan office units will be on the five top floors. The upper floors of the office building will provide excellent views of Tampere's major landmarks. The renovation project will also add a separate entrance to the office building on Hämeenkatu as well as parking space for approximately 50 cars.
The renovation will be completed in phases during 2011. The project will involve a special focus on solutions that improve the building's energy efficiency and waste management. Upon completion of the renovation project, the property will be included in Sponda's energy efficiency programme. The programme is an effort by Sponda to seek energy savings in partnership with its customers.
Complementing Tampere's fashion retail landscape
The primary tenants of the retail units in the property will be Veljekset Halonen Ltd and University Pharmacy Ltd. Halonen will open a fashion department store spanning over 2,000 square metres in November 2011, improving the range of fashion and clothing retail services in central Tampere. University Pharmacy Ltd, which already operates in the building at present, will open its redesigned store in autumn 2011.
- Halonen has been looking for top quality retail space at a central location in Tampere for quite some time to complement our existing retail operations in the city. In our view, Kauppa-Häme’s location on a busy shopping street makes it the best spot in Tampere. The Halonen fashion department store opening on Hämeenkatu will feature a brand new retail concept for the chain, with brand clothing given more prominent space, explains Pekka Halonen, Managing Director of Veljekset Halonen Ltd.
- The renovation will make the property brighter and easier to navigate, with improved access for everyone including those with prams and buggies. Our customers will still find us conveniently at street level, says Jari Kokkonen, Pharmacist at University Pharmacy Ltd.
Sponda Plc
Further information: Ari-Pekka Lehtonen, Regional Manager, Sponda Plc, Investment properties, tel. +358 400 517 587
Photo: the new facade of the Kauppa-Häme building
Sponda Plc is a real estate investment company specialising in commercial properties in the largest cities in Finland and in Russia. Sponda's business concept is to own, lease and develop office, retail and logistics properties into environments that promote the business success of its clients. The fair value of Sponda's investment properties is approximately EUR 2.9 billion and the leasable area is around 1.5 million m².
