Finnish commercial real estate company Sponda said on Thursday that it has bought an office property in St Petersburg for $ 11.5 mln (EUR 8 mln). The property is in a central location in the city's administrative district and comprises a total of 2,730 m[sup]2[/sup] of leasable office premises and parking for 27 cars. The property is fully leased.
Finnish commercial real estate company Sponda said on Thursday that it has bought an office property in St Petersburg for $ 11.5 mln (EUR 8 mln). The property is in a central location in the city's administrative district and comprises a total of 2,730 m2 of leasable office premises and parking for 27 cars. The property is fully leased.
On Wednesday Sponda announced it is to redevelop an office property into a hotel in Kamppi, Helsinki. Palace Kämp Hotellit Oy has signed a long-term lease for the 4,400 m2 building. The redevelopment, which will start at the beginning of 2008, is due for completion in spring 2009. The work will affect the inside of the building but not the façade, and the street level retail premises will also remain unchanged.