Sponda Plc has acquired the outstanding minority holdings in the Kaivokatu 8 property from Polar Kiinteistöt Oyj (Polar Properties), Tasavalta Myymälät Oy and Valio Pension Fund for FIM 115 million. The Kaivokatu 8 is part of the larger Makkaratalo complex, total n. 32 000 m2. The holdings represent approximately 2500 m2, or 19.3 % of the total area, giving Sponda 100 % ownership of the property. At the same time Sponda also purchased office buildings in Mäkkylä (Espoo) and Lauttasaari (Helsinki) from the Valio Pension Fund.
The minority holding in Kaivokatu 8 owned by Polar Properties comprised office space totalling 1600 m2. Tasavalta Myymälät Oy owned about 270 m2 of retail and storage space, and the Valio Pension Fund restaurant premises totalling roughly 640 m2. The Fund's building at Kalkkipellontie 2 in Mäkkylä, Espoo, has roughly 3800 m2 of floor space and the building at Itälahdenkatu 20 in Lauttasaari 2000 m2 of floor space.
Full ownership of the Kaivokatu 8 property makes it easier for Sponda to proceed with its plans to develop the entire property. Sponda's aim is to renovate the complex, known locally as "Makkaratalo", and turn it into a modern shopping mall with a full range of services. The Makkaratalo block is also part of the City of Helsinki's plans to rejuvenate the city centre by expanding its pedestrian precincts.
Sponda is a property investment company that owns and leases office, retail and logistics properties in prime business locations in the Helsinki Metropolitan Area. Sponda is listed on the Helsinki Exchanges.
Sponda Plc