Sponda Plc has sold its property Lönnrotinkatu 29 (Vanha Poli) in Helsinki BD for EUR 6.4 million to La Tour Securities Oy, a member of the Palace group. Sponda will enter a profit of approximately EUR 3 million on the sale in its fourth-quarter accounts of the year.
The property, known as the Vanha Poli (Old Polytech) building, celebrates its 100th anniversary this year. Designed by architects Lindahl & Thomé for the Association of Finnish Polytechnics, it is a massive castellated granite edifice built in the national-romantic style. It became part of Sponda's portfolio in 1991. The LordHotel operates in the property.
The Palace group manages six restaurants in Helsinki and also owns the Palace Hotel.
Sponda Plc is a property investment company specializing in business premises. Sponda's business concept is to shape the working environments of its properties and client companies in order to provide its clients with the best possible conditions for success. Sponda's property portfolio has a market value of approximately EUR 1.2 billion and a leasable area of 800 000 m2. Sponda is the largest real estate investment company on the Helsinki Exchanges.
Sponda Plc
Further information:
Mr Kari Kolu,
President and CEO,
Sponda Plc,
tel. +358 0 6805 8202
Ms Sari Aitokallio,
CFO,
Sponda Plc,
tel. +358 0 6805 8206