The property on Nilsiänkatu 10 was built between 1934 and 1945. It has five office floors and two basement floors with a total floor space of approximately 17,000 square meters. With the acquisition, approximately 250 tenants within mainly the field of arts and culture as well as staff consisting of three persons currently working in the property are transferred to Kiinteistö Oy Kaapelitalo. The current leasing activity in the property will continue unchanged.

- We were offered the opportunity to buy a property that fits our profile and our strategy. With this transaction, we are able to spread our operations alongside Ruoholahti and Suvilahti to Vallila and ensure that cultural activities will continue in this valuable industrial property, says Kai Huotari, CEO of Kiinteistö Oy Kaapelitalo.

Kiinteistö Oy Kaapelitalo is a real estate company owned by the City of Helsinki. It renovates and leases old industrial buildings for arts, culture and creative industries. Since 1992, the company has owned and managed Ruoholahti-based Cable Factory, which is the largest cultural centre in Finland. Since 2008, the company has also owned the old power generation area in Suvilahti, known for many public events and festivals.

- Our aim is to develop our properties on a long-term basis to meet the needs of the arts, cultural and creative industries. We work on a sustainable basis to enrich the cultural activities in the city, Huotari continues.

With the acquisition of Nilsiänkatu 10, Kiinteistö Oy Kaapelitalo manages nearly 100,000 square meters in three different locations around Helsinki. In addition, Dance House Helsinki is under construction at the northeastern end of the Cable Factory. It is to be completed in 2021.

More information: Kai Huotari, Managing director, Kiinteistö Oy Kaapelitalo, kai.huotari(at)kaapelitehdas.fi, tel. +358 50 384 1557

Photo: Nilsiänkatu 10 / Tailorframe Oy