Technopolis has acquired Nokia’s Peltola campus in Oulu, Northern Finland, for nearly €32 mln.
Technopolis has acquired Nokia’s Peltola campus in Oulu, Northern Finland, for nearly €32 mln.
The rentable space of the campus totals roughly 37,600 m2 and includes a parking garage with 800 spaces.
Under the deal, Nokia will lease back 17,400 m2 of space at the campus under a long-term lease.
Technopolis said the financial occupancy rate of the campus will be 64% from the beginning of the second half of the year based on existing leases and prelets. 'Technopolis believes that it can increase the financial occupancy rate of the campus to more than 90% within two years, increasing the net rental yield to over 11%,' the company said in a statement. The asset's current market yield is 8.5%.
The acquired properties complement Technopolis’ existing 27,000 m2 Kontinkangas campus in the area, offering a combined area of 64,600 m2.
