HPP acted as the legal advisor to three sellers in concluding a preliminary contract with Helsinki Nasdaq listed Sato Corporation concerning the acquisition of three plots. The object of the sale defined in the preliminary contract is subject to a town plan amendment and is located in the Lasihytti area south of the train line in the Kauklahti district of Espoo.
The currently pending amendment of the town plan enables housing production for over thousand new residents with new residential building rights of around 40.000 square meters. According to current estimates, the construction of the residential buildings in the area could begin in 2022.
HPP advises the sellers in the preparatory works for the transaction as well as the transaction negotiations. Newsec advises the property owners in guidance with respect to the town amendment plan as well as in the sale process.
