Sponda to develop Tampere’s largest shopping centre
Stock Exchange Release
30 March 2015 at 8:30 a.m.
Sponda to develop Tampere’s largest shopping centre
Sponda Plc has made the decision to develop the Ratina shopping centre in Tampere. Ratina will be Tampere’s largest and most upscale shopping centre, situated in a unique location in the heart of the city. Comprised of three buildings, the shopping centre will be a versatile hub for recreation and entertainment in Tampere.
The construction of the Ratina shopping centre will begin in April 2015 with excavation work on the new Valo-Ratina building, and the shopping centre is estimated to be completed in spring 2018. The complex comprises a total of approximately 53,000 square metres of retail and service premises with more than 150 shops. The project’s total investment, including the land value, is estimated at approximately EUR 240 million, with some EUR 40 million invested to date. The target development margin is 15 per cent and the estimated yield on cost at completion is 7.5 per cent. The shopping centre’s pre-let rate is about 30 per cent.
– The Ratina shopping centre is Sponda’s largest property development project. The decision to move forward with the Ratina shopping centre is big news for the city of Tampere and commerce in the Pirkanmaa region, as the new shopping centre will support the city’s growth and appeal as a place to live in and travel to. It will reinvigorate the underused Ratina district. In addition, the shopping centre will have direct and long-term effects on employment, says Kari Inkinen, President and CEO of Sponda Plc.
A new meeting place for the people of Tampere
The aim is to bring shops to Ratina shopping centre that have not previously been seen in the Pirkanmaa region. The shopping centre will include two grocery stores, specialty shops selling products and services in the areas of fashion, wellness, interior design and recreation, as well as a diverse range of restaurants and cafés. Examples of the new shopping centre’s tenants include K-Supermarket, Lidl, H&M, Fitness24Seven and Tullinkulma Occupational Health Centre.
In addition to providing high-quality shopping opportunities and restaurant services, the shopping centre will strengthen the local community by creating an excellent setting for diverse entertainment. The Ratina shopping centre will be a lively hub where people can meet and spend their free time, while also providing a stage for city events and culture. The consumer service experience will be a key focus area for the shopping centre. This will also be supported by digital services.
A shopping centre comprised of three buildings
The shopping centre will be located in the Ratina district, next to the bus station and Tampere Stadium. In addition to the newly constructed Valo-Ratina building, the shopping centre will include two existing functionalist buildings, Ranta-Ratina and Funkkis-Ratina, which will be renovated in a manner that preserves their character and heritage. Moving between buildings will be convenient in any weather through indoor passageways.
The design of the property as a whole takes into account the district’s significance to the cityscape. The shopping centre will be part of a cityscape in which the key elements are existing functionalist blocks of significant cultural and historical value, a traditional factory milieu, the Tammerkoski rapids and Ratina Bay. The newly constructed building will be a seamless fit with its historically valuable setting.
Due to its central location, the Ratina shopping centre is easily accessible by foot, bicycle, car or public transportation. There will be parking for approximately 1,250 cars.
Environmental aspects will be a high priority at the Ratina shopping centre. For example, the cooling of the shopping centre will utilise the cool water masses that flow through Ratina Bay, and the heat generated by the shops’ refrigeration equipment will be utilised in heating the property. Warm air that has circulated in the interior of the shopping centre is used to heat the parking facilities. The aim is to apply for international BREEAM environmental certification for the shopping centre.
Sponda is organising a Finnish-language media conference in Tampere today, on Monday 30 March 2015, at 12:00 noon. Kari Inkinen, President and CEO, Veli-Pekka Tanhuanpää, Senior Vice President, Property Development, and Henrik Stadigh, Director, Shopping Centres, will be on hand to discuss the Ratina shopping centre and the start of the project. The media conference will be held in the Autotuonti building at Vuolteenkatu 11. Entrance to the event is from Vuolteenkatu, across the street from the old bus station platform area.
Pictures of the Ratina shopping centre are available online at http://villivisio.kuvat.fi/kuvat/Tampere/.
Additional information: Kari Inkinen, President and CEO, tel. +358 400 402 653
Sponda Plc is a property investment company specialising in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda’s investment properties is approximately EUR 3.1 billion and the leasable area is around 1.2 million square