Lemminkäinen sells Tampere residential property to SATO
LEMMINKÄINEN OYJ PRESS RELEASE 30 September AT 12.30
LEMMINKÄINEN SELLS TAMPERE RESIDENTIAL PROPERTY TO SATO
Lemminkäinen has sold a residential apartment block, projected for construction in Tampere, to SATO, a Finnish property investment company. The new residential estate, called Asunto Oy Tampereen Strada, will be built in central Tampere, next to the Ratina Stadium, at Voimakatu 1. The contracting parties have agreed not to disclose the contract price.
The Strada estate will have 56 high-end residences. Comprising a nine-storey tower and an adjoining five-storey wing, the complex will have a total area of 4,600 m². A two-storey basement under the building will house additional premises, including a 48-car garage.
Construction work at the Strada site has begun with foundation work and piling. The property is due for completion in spring 2013. Another construction contract by Lemminkäinen, on a property called Kiinteistö Oy Ratinanraitti, and a developer-contracting project, called Asunto Oy Tampereen Baana, are underway in the same city block. Strada and Baana will be joined to form a single complex. A shared garage, located in a courtyard in the block's interior, will house parking lots for residents from both buildings.
FOR FURTHER DETAILS CONTACT:
Tuomo Turkkinen, Regional Manager
Lemminkäinen Talo Oy
Tel. 040 717 7576
NASDAQ OMX Helsinki Ltd
Lemminkäinen-Group operates in all areas of the construction sector. The Group’s operations have been organised into three business sectors: building construction, infrastructure construction and technical building services. Lemminkäinen Group’s net sales in 2010 were approximately EUR 2.0 billion, of which international operations accounted for over a quarter. The Group employs on the average 8,000 people. Lemminkäinen Corporation´s share is listed on NASDAQ OMX Helsinki Ltd.