HPP advised Auratum in the real estate development project of Taivallahti Barracks


Taivallahti Barracks, historical barracks site located in Taka-Töölö district of Helsinki, formerly used by the vehicle company of Taivallahti, will gain a new life in an adaptive reuse project. Auratum Kiinteistöt Oy, a part of the Auratum group, bought the deserted site from Senaatti-kiinteistöt. The investor of the site will be Veritas Pension Insurance.

The facilities to be renovated in the former garage and barracks building will include a supermarket, nursing home, office and meeting facilities, restaurant and business facilities as well as an underground parking garage. Moreover, loft apartments will be constructed by Auratum Asunnot Oy in a building used by a repair workshop of the former vehicle company. Once the site is finished the aggregate area to be leased therein will total over 11,000 square meters, and the total value of the investment is over 30 million euros. The major tenants on the site will include Kesko Corporation, Mikeva Oy, the Parish Union of Helsinki, and Q-Park Finland Oy.

The development of the barracks site that will be redeveloped for a totally new multipurpose use required not only expertise in contract law relating to the sale and purchase of the site, but also extensive knowledge in a variety of special questions concerning real estate law.

HPP’s team was led by partner Jari Tuomala, who was assisted by senior associate Antti Rikala and associate Pauliina Lievonen.

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