Sponda to build new commercial premises for XXL Sports & Outdoor
Property investment company Sponda Plc and XXL Sports & Outdoor Oy have concluded a contract for the construction of new commercial premises in Oulu. At a total area of 4,200 square metres, the property will enjoy a central location in the Limingantulli commercial cluster at Alasintie 8 and will house the international sporting goods specialist's first store in northern Finland.
The project will kick off with the demolition of an existing building on the site in summer 2015. Construction is scheduled to begin in autumn 2015, with the building due for completion in late spring 2016. The project's total investment is estimated at approximately EUR 4.7 million, inclusive of demolition costs.
Sponda has numerous property development projects in progress Alongside the Oulu site, Sponda currently has several property development projects underway, including the construction of Tampere's largest shopping centre. The construction of the Ratina shopping centre began in April 2015 and it is expected to be completed by spring 2018. The complex, built across three properties, comprises a total of approximately 53,000 square metres of retail and service premises with more than 150 businesses.
Additionally, Sponda is building three office buildings for Sweco in Ilmala, Helsinki. The approximately 18,000 square metre Ilmalanrinne office complex is due for completion in December 2015.
A further development in the Helsinki area is an office building in Lassila. The principal tenant in the new office building will be Kone Hissit Oy. Comprising a total of 5,700 square metres, the development is due for completion by the end of June.
Sponda Plc
Further information: Veli-Pekka Tanhuanpää, Senior Vice President, Property Development, tel. +358 40 700 9646
Sponda Plc is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda's business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda's investment properties is approximately EUR 3.1 billion and the leasable area is around 1.2 million m².
© 2015 GlobeNewswire
