17 Jun 2020

M7 fully lets a property in Kontula, Helsinki

M7 Real Estate (“M7”), the pan-European real estate investor and asset manager has, on behalf of M7 Real Estate European Investment Partners IV fund (“M7 EREIP IV”), fully let Lirokuja 4, Kontula in Eastern Helsinki.

The property, which comprises 2,630 sq m of warehouse and office space, is now fully occupied following a new letting of circa 600 sq m of office space to Ruohonjuuri Oy an eco-friendly, healthfoods grocery store. An established business, operating since 1982, Ruohonjuuri Oy has let the space for their expanding e-commerce operations. Lirokuja is located in Kontula, one of Helsinki’s biggest suburbs which is situated to the east of the city centre.

Joona Suomela, Country Manager M7 Finland, commented: “In line with the business plan identified when the asset was acquired, M7 has implemented a targeted capital expenditure programme and used its local knowledge to reposition the asset in the market. As a result, we are very pleased to have fully let the property thereby improving value for our investors, especially given the current Covid-19 backdrop.”