SRV sells WithSecure headquarters to Union Investment – the wooden office building, to be built in Wood City, aims for a positive carbon handprint

SRV GROUP PLC     INVESTOR NEWS     16 JUNE 2022    15:00 EEST

SRV sells WithSecure headquarters to Union Investment – the wooden office building, to be built in Wood City, aims for a positive carbon handprint

SRV and Hamburg based real estate investment manager Union Investment have signed an agreement on the sale and construction of an office building to the Wood City quarter in Jätkäsaari, Helsinki. The property has been leased to WithSecure, a leading Finnish cybersecurity company. The total value of the transaction is about EUR 58 million. The project will be recognised in SRV’s order backlog in June.

With this transaction, the construction of this office building – the final section of Wood City – will begin in June. The eight-story office building will have a total floor area of around 8,700 square metres. The building will be used by WithSecure and F-Secure. The design of the building has been carried out in close collaboration with the companies, to accommodate their needs. The goal is to create a work environment that is appropriate to the company’s culture and operations and provides facilities where employees will enjoy working in the future. The new premises will be commissioned during 2024. Supercell’s headquarters and two residential apartment buildings are also located in the wooden quarter.

“We’re delighted to start implementing the last section of the quarter. This project requires specialist expertise in wood construction, which we’ve gained plenty of over the years, including building the Wood City quarter. The new wooden office building wonderfully embodies our lifecycle-wise strategy, which revolves around sustainable and responsible construction,” says Saku Kosonen, SRV’s Unit director, Business Premises in the Helsinki metropolitan area.

“In the past five years we have invested more than EUR 500 million in the Nordics and intend to expand our exposure significantly in the coming years. We look forward to future cooperation with such a renowned partner as SRV,” says Kubilay Oezbisikletci, Senior Investment Manager Nordics at Union Investment.

“This project is an excellent example of the project development portfolio we’re developing for investors: stable cash flow, a state-of-the-art HQ building and environmentally friendly construction that also minimises the owner’s carbon footprint over the ownership period. With this transaction, we’re gaining one of Europe’s leading property investment managers, Union Investment, as a new partner. Our aim is to expand our cooperation with both our existing and new investors going forward,” says Tuomas Kokkila, Head of Transactions at SRV.

One of the first EU taxonomy-aligned construction projects in Finland

The second office building in Wood City is one of the first EU taxonomy-aligned projects in Finland. EU taxonomy reporting came into effect earlier this year – it aims to steer companies towards engaging in sustainable operations. In the construction industry, the EU taxonomy values aspects such as the energy efficiency of buildings, the use of renewable materials, adaptability and preparedness for future climate changes. The new office building in Wood City will be implemented in line with the taxonomy.

A positive environmental impact with a great carbon handprint

The project aims to minimize energy and material emissions. In addition, all SRV’s sites became net-zero emission sites as from the beginning of 2022. This enables that the project seeks to achieve a positive environmental impact – that is, a large carbon handprint. It primarily uses renewable low-carbon construction materials that bind carbon dioxide throughout the lifecycle of the building. The small carbon footprint created during construction is offset by planting trees to serve as a carbon sink for the equivalent amount of emissions.

When this energy class A building is completed, an international LEED Platinum environmental certificate will be sought for it. An energy efficient air-to-water heat pump will be installed on the property. Over 300 square metres of solar panels will be built on the roof of the office building.

Additional information:

Tuomas Kokkila, Head of Transactions, tel. +358 (0)50 469 1822, tuomas.kokkila@srv.fi
Saku Kosonen, Unit director, Business Premises, Helsinki metropolitan area, SRV, tel. +358 (0)40 549 1221, saku.kosonen@srv.fi
Olli Viita, Director, Project development, SRV, tel. +358 (0)50 579 4973, olli.viita@srv.fi
Heidi Tetteh, Communications manager, SRV, tel. +358 (0)40 662 3220, heidi.tetteh@srv.fi
Kubilay Oezbisikletci, Senior Investment Manager Nordics, Union Investment, Kubilay.Oezbisikletci@union-investment.de

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SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes into consideration the wellbeing of both the environment and people. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter – and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in both Finland and Russia. In 2021, our revenue totalled EUR 932.6 million. In addition to about 1,000 SRV employees, we have a network of around 3,600 partners.

SRV – Building for life

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