Fortum and Fortum’s Pension Fund will sell Fortum’s current head office campus in Keilaniemi, Espoo, to Regenero Oy. The transaction includes the head office buildings and the plots.
Fortum announced earlier this year that the company’s head office will move at the turn of 2017-2018 to a refurbished multi-space office in Keilaniemi, Espoo. In addition to Fortum, the new head office building will house Tieto Oyj and Microsoft Oy. At the same time the company also announced that it was reviewing the continuation of its current head office. The primary alternative was to sell the building.
“We are pleased to have reached this point in the project. The new owner can now start the work to develop the iconic high-rise and the surrounding area. We will focus on our core business and will move into premises in Espoo that will better accommodate our current operations,” notes Risto Penttinen, Senior Vice President, Strategy, People and Performance, Fortum.
“Regenero’s goal is to develop the entire Keilaniemi area. With the real estate acquisition, Regenero can create a sustainable, multi-use urban environment close to excellent public transportation services that are continuing to develop with the Western Metro Extension,” says Juha Kostiainen, Chairman of Regenero’s Board of Directors.
“Fortum’s head office move is part of a broader corporate culture change, which will strengthen innovativeness and support open interaction between employees and a modern management approach. Our intention is to get the best possible benefit from new technologies in our daily work. We also want to promote the work wellbeing of our personnel by offering an inspiring working environment and the opportunity for flexible working,” says Risto Penttinen.
The value of the transaction is about EUR 74 million. Fortum will record the profit from the sale in its first-quarter 2018 financial result.