Investment Properties in 2015

The Investment Properties business unit is divided into three segments: Office Properties, Shopping Centres and Logistics Properties. The Investment Properties unit leases office, retail, shopping centre and logistics premises as well as purchases and sells properties in Finland.

The office properties are primarily located in the Helsinki’s central business district, the Helsinki metropolitan area and Tampere. The shopping centres are located in Helsinki, the Tampere region and the Oulu region. The logistics properties are primarily located in the Helsinki metropolitan area.

According to its strategy, the company is planning to divest its entire logistics property portfolio as well as property ownership in Turku within 1–3 years. Going forward, the company will focus on office premises and shopping centres in prime areas in Helsinki and Tampere. 

Key figures, Office Properties          
  2015 2014 2013 2012 2011
Total revenue, M€ 149.1 141.8 143.0 143.9 132.8
Operating expenses, M€ -39.4 -38.8 -39.0 -39.0 -37.2
Net operating income, M€ 109.7 103.0 104.0 104.9 95.6
Fair value of properties, (excl. properties classified as held for sale)  M€ 1,994.8 1,853.5 1,753.3 1,705.7 1,644.0
EPRA, Net Initial yield, % 5.9 5.4 6.2 6.3 6.0

 

Key figures, Shopping Centres          
  2015 2014 2013 2012 2011
Total revenue, M€ 46.6 45.8 45.9 42.0 40.4
Operating expenses, M€ -10.9 -10.6 -11.0 -9.7 -8.8
Net operating income, M€ 35.7 35.2 34.9 32.3 31.7
Fair value of properties,  M€ 733.6 726.0 717.5 736.7 586.1
EPRA, Net Initial Yield, % 4.7 4.7 4.4 6.1 6.7