The deal is being implemented as a company sale and is based on a property value of approximately EUR 80 million. The project is being implemented with so-called forward funding and is fully financed by the buyer. The buyer will take possession in the first quarter of 2025 and profit and loss will be recognized in connection with completion, which is expected to occur in the second quarter of 2027.

“With this project start, we are creating a new interface between the private and public sectors and combining different operations under the same roof. I am pleased that Infranode and Suohki as investors and the City of Espoo as a tenant share our vision. This is also a welcome activity for the property market in Finland,” says Joachim Holmberg, Business Area Manager NCC Property Development.

The majority of the space, approximately 11.000 square meters, will be used for premises for education, research and development. The office space amounts to approximately 3.000 square meters. A parking garage with around 90 spaces will also be built next to the property, which is included in the deal. Cleantech Garden is expected to achieve BREEAM Excellent certification.

“This investment is an excellent addition to Suohki, which focuses on providing high-quality social infrastructure with a focus on sustainability to municipalities and regions in Finland, among others. As a long-term and responsible partner in socially important infrastructure, we look forward to contributing to Espoo's continued development,” says Samuli Kivipelto, Investment Manager at Infranode.

The project is being implemented in the NCC Property Development business area and the contract is being carried out by NCC Building Nordics and the order will be registered in the first quarter of 2025. The project is expected to be completed in the second quarter of 2027.