SRV GROUP PLC STOCK EXCHENGE REPORT 5 SEPTEMBER 2014
SRV is selling Derby Business Park, which was completed last year, to Niam. Derby Business Park is located in Perkkaa, Espoo, next to the Turku highway in the Leppävaara business cluster. The sold entity consists of three office towers and a parking facility, and also includes SRV’s own headquarters and the head office of Siemens Finland. Derby Business Park is almost fully let.
“Derby’s high occupancy rate and strong cash flow provided an opportunity to lighten our balance sheet to support the launch of our major projects,” says Timo Nieminen, SRV’s Executive Vice President, Project Development.
Derby Business Park has received the highest environmental certificate, LEED Platinum, particularly due to its energy efficiency. Derby is the first business property in Finland to operate using ground source heat. Thanks to energy efficiency, operating costs are 20 per cent lower than in comparable properties.
“This property complex is located in the developing Perkkaa business and residential area, less than 20 minutes’ drive from Helsinki city centre. There are also connections to Derby from Leppävaara Station. It is our intention to build more business premises and housing in the near vicinity of Derby this decade,” says Nieminen.
Catella Property Oy acted as advisor to SRV in the sale.
SRV Group Plc
Markus Laine, Director, Real Estate Transactions and Investors, SRV, +358 504 662 838
Niam is the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately 2.5 billion euro. Niam offers global institutions the opportunity to invest in the Nordic property markets. Since inception in 1998, Niam has invested over 7 billion euro through its own funds or on behalf of its financial partners. Niam has a fully integrated investment team of 45 dedicated real estate professionals with experience across all major asset classes. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen. For more information: www.niam.se.
SRV Group Plc is a publicly listed company, founded in 1987, that has revenue of approximately EUR 700 million. SRV boldly develops, commercialises and builds new residential and business environments. The Group employs a thousand people. In addition to its operations in Finland, SRV is active in St. Petersburg, Moscow and Estonia. www.srv.fi/en