References:Advisory

Tuloskiinteistöt advised the seller in a transaction where Veritas Pension Insurance Company sold the residential building right of an old and demolished hospital area in Töölö to Avain Yhtiöt.

The transaction included nearly 23,000 gross floor square meters of residential building rights and over 1,700 gross floor square meters of commercial building rights. This residential block, worth around EUR 200 million when completed, will bring nearly 300 new apartments to the heart of the prestigious Töölö district and more life to the streetscape with new commercial premises. The foundation for the planning is the “Palazzo” competition entry by Huttunen-Lipasti Architects, which won the architectural competition previously held for the area’s development. Construction on the site will start at the end of 2025 and the first apartments will be completed in summer 2027.

Warm thanks to Veritas, especially Heikki Palmu and Jaana Kortekuru, for their trust and excellent cooperation throughout the extensive project. Many thanks also to the whole Avain Asunnot team for the constructive and smooth dialogue in all stages of the long process.