Sponda’s Investment Properties business unit leases office, retail, shopping centre and logistics premises and purchases and sells properties in Finland. The unit’s aim in customer relations is to create long-term interactive partnerships.
The business unit’s properties are located in Helsinki, Espoo, Vantaa, Tampere, Turku and the Oulu region. Sponda develops new properties based on customer demand.
The European economic crisis continued to be reflected in the market, making the launch of new construction projects more difficult and reducing customers’ need for business premises. Despite this, Sponda was able to maintain a stable occupancy rate for its office premises in the challenging rental market in 2013.
After revising its strategy in the second half of the year, Sponda now plans to divest its entire logistics property portfolio and its property ownership in Turku within the next three to five years. Going forward, the company will focus on office premises and shopping centres.
At the end of 2013, the total fair value of Sponda’s property portfolio comprised 59 per cent office properties, 26 per cent shopping centres and 15 per cent logistics properties in Finland.
Investment properties were sold for a total of EUR 23.1 million in 2013. The company invested EUR 22.3 million in property maintenance and improving the quality of properties during the year.
- The economic occupancy rate of Sponda’s office premises developed better than the market average and stood at 90.1 per cent at the end of 2013.
- As a result of a change in strategy, the company is planning to divest its entire logistics property portfolio as well as property ownership in Turku within three to five years.