LEMMINKÄINEN CORPORATION PRESS RELEASE 4.8.2010, 12.00
PHASE I OF LEMMINKÄINEN'S KAUPPAPAIKKA HERMAN PROJECT GOES TO NAUMANEN OY
Lemminkäinen Talo Oy Itä- ja Pohjois-Suomi and Naumanen Oy have signed an
agreement concerning a share transaction relating to phase I of Kauppapaikka
Herman in Kuopio. The agreement covers approximately half of the property owned
by real estate company Kiinteistö Oy Kuopion Leväsentie 2.
Kauppapaikka Herman is a retail trade property with a total floor area of over
38,000 m2. It is centrally located in the city of Kuopio and worth approx. EUR
After the premises were vacated by Junttan Oy and Sasmox Oy, Lemminkäinen
started construction work on Herman in May 2010. The whole project will be
completed in spring 2012. About 18,000 m2 of the old property will be
ecologically exploited in the site's development. Phase I of the project, which
will be completed in autumn 2011, encompasses almost 20,000 m2 of retail floor
area. The site will be home to an over 15,000 m2 new-concept K-Rauta, the store
premises of which were the subject of a leasing agreement that Rautakesko Oy
made in autumn 2008. Matti and Olli Naumanen will act as K-Rauta's retailers.
- Lemminkäinen has been developing the Leväsentie 2 property into a significant
retail centre since spring 2008. The property has aroused a great deal of
interest in the retail trade and among real estate investors. The new zoning
plan that came into force in June 2010 allows the construction of a specialist
retail outlet requiring plenty of product display floor area as well as a large
non-food retailing unit, so the site represents a diverse product and service
centre, says Lemminkäinen's Regional Director Matti Pätynen.
- The investment is the largest in the history of Naumanen Oy, says retailer
Matti Naumanen. The location of the property is excellent for retail traders.
The area is attracting a good mix of home improvement stores, recreational and
sports shops, and specialist construction businesses.
- We have been operating in Kuopio for about three years. As a business grows,
the need for new premises becomes very real. Kuopio's good business climate and
very smooth co-operation with Lemminkäinen were ultimately the key factors in
our decision to strengthen the business in the Kuopio area and invest in
Kauppapaikka Herman, says retailer Olli Naumanen.
Regional Director Matti Pätynen
Lemminkäinen Talo Oy Itä- ja Pohjois-Suomi
Tel. +358 40 739 1709
Retailer Matti Naumanen
Tel. +358 500 372385
NASDAQ OMX Helsinki Ltd
Lemminkäinen Group operates in all areas of the construction sector. The
Group's business sectors are Building Construction, Infrastructure
Construction, Technical Building Services, and Building Products. Net sales in
2009 were approx. EUR 2.0 billion, of which international operations accounted
for over a quarter. The Group employs about 8,600 people. Lemminkäinen
Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com