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TTP acquires university property in Turku

- Non-regulatory information

Turku Technology Properties Oy (TTP), a property company jointly owned by Hemsö and the City of Turku, has acquired the Arken property from the Åbo Akademi University Foundation. Åbo Akademi University remains the tenant of the whole property under a 20-year lease agreement. The property is located in central Turku and offers 15,000 square meters of leasable space. The investment totals EUR 43 million.

Arken campus, home to Åbo Akademi’s Faculty of Humanities, consists of 13 buildings housing classrooms, offices, a library, and a parking garage. The site has a long history – during the 19th and 20th centuries, the land and its buildings were used for industrial purposes. The buildings, constructed between 1850 and 1930, represent an important part of Finland’s industrial architectural heritage.

Between 2001 and 2004, the Åbo Akademi University Foundation carried out extensive renovations, converting all buildings on the site into educational and office spaces. During that period, new buildings were also developed within the property.

Arken is an extraordinary property. It has its own character and tells the story of Turku’s past and present.

Mikko Lehtinen, CEO of TTP

“Åbo Akademi is an essential part of Turku and its scientific development. We’re pleased to be part of its continued growth. From a property owner’s perspective, it’s also an excellent asset — fully leased and with a highly stable tenant. These factors make Arken a perfect addition to our portfolio,” says Mikko Lehtinen, CEO of TTP.

Hemsö has been a co-owner of TTP since 2019. Hemsö holds 52 percent of the shares, making it the largest shareholder. The City of Turku owns 38 percent, and Turku University of Applied Sciences owns the remaining 10 percent. TTP connects education, research, and business through its tenant cluster known as Science Park, whose largest tenant is the University of Turku.

For more information, please contact:

Mikko Lehtinen, CEO, TTP                                                      +358 040 096 0626

Jarkko Leinonen, Head of Region Finland                         +358-400 150 841