Sponda Plc Stock Exchange Release 21 October 2008 at 9.50 am
Sponda sells retail and office property in Espoo to Tapiola KR III Ky property
fund for EUR 28.3 million
Real estate investment company Sponda Plc has signed a binding agreement to
sell a retail and office property Tapiolan Toimitalo located in the centre of
Tapiola, Espoo to Tapiola KR III Ky property fund for EUR 28.3 million. The
property, located at Länsituulentie 7, contains 5,000 square metres of retail
premises and 2,300 square metres of offices. Sponda is recording a capital gain
of approximately EUR 9 million on the sale. The sale is to be finalised by the
end of October.
The centre of Tapiola is under extensive development in the future. The
transaction ensures that the ownership of the properties in the centre of
Tapiola is concentrated. This, in turn, ensures the future development
investments in the area.
Sponda Plc
Further information:
Kari Inkinen, President and CEO, tel. +358
20 431 3311
Sponda Plc is a real estate company specializing in commercial properties in the
largest cities in Finland and in Russia. Sponda's business concept is to own,
lease and develop office, retail and logistics properties into environments that
promote the business success of its clients. The fair value of Sponda's
investment properties is approximately EUR 2.8 billion euros and the leasable
area is around 1.4 million m².
Sponda sells retail and office property in Espoo to Tapiola KR III Ky property fund for EUR 28.3 million
| Source: Sponda Oyj