Successful development work in Leppävaara, Espoo

At the end of 2019, in an assignment with Kielo, a real estate company managed by Brunswick Real Estate, Juhola acquired the office properties of Quartetto Intermezzo and Säterinkatu 6, in the Leppävaara business park in Espoo, with about 10,000m^2. of empty office premises in a highly competitive area. Juhola’s active approach, professionalism and especially Leppävaara’s regional knowledge were important factors for the owners when choosing a manager and development partner. Expectations were high and have been met with good results.

In the initial situation, the Quartetto Intermezzo building had only one user of about 1000m², and Säterinkatu 6 had been completely empty for a long time. Over the past five months, a great deal of work has been done in branding, service network construction, leasing and construction contracting. As many as 13 new leases have been signed, for more than 5,300m^2. The combined occupancy rate of the two properties has risen from the original figure of about 9 per cent to approximately 57 per cent in less than six months.

“The biggest success factors have been active and customer-oriented leasing and cooperation with Kielo. The competitive advantages have been, among other things, the great location of the properties right next to the Raide-Jokeri now under construction, as well as the tenant alteration works being carried out according to a fast schedule. Due to high demand, premises for smaller users are now being built in the Intermezzo building, where modern private premises are combined with comfortable and communal public kitchens and social facilities,” says Antti Jalomäki, Director of Juhola Business Park and Partner.

The goal for Juhola was to fill the properties in record time, and already at this stage we are very close to that goal. The coronavirus situation has posed challenges, but successes in leasing and active project management in the construction sector have ensured the project’s progress even in exceptional circumstances. By the end of this year, most of the work will be completed and Juhola will continue property management at both sites.

”We want to provide the best service on the market and create value for property owners. We know that it requires a lot of work, but it is in assignments like this that Juhola’s ambitious team can really show their best and bring out their expertise,” sums up Aleksi Aitala, CEO and Partner of Juhola Asset Management.