TDD and EDD services preceded the sale of EY office building

Granlund was the technical advisor

Granlund was hired by German real estate investment fund Union Investment Real Estate GmbH to carry out the technical and environmental due diligence investigations of the office building located in the Töölö bay area of Helsinki. The sale of the building from Etera to Union Investment’s Unilmmo fund was completed in March 2015. The properties main tenant is EY (Ernst & Young).

Technical Due Diligence reporting included detailing of property structures and technical systems and services, as well as identification of building issues and defects and potential long term technical investment costs. The Environmental Due Diligence reporting was a broad investigation into the building and surrounding areas. The report investigated the potential environmental risks associated with the development and area and the assessment of the building based on sustainability metrics.

The construction of the office building was completed in May 2014 and 70% of the building is leased to EY. The leasable area of the building is 10 888 m2. It is one of 3 Etera built office building in the Töölö bay area. The property has achieved LEED Gold certification.

The EY headquarters building becomes part of the Union Investment portfolio in the Helsinki regions which comprises of 11 buildings with a total value of approximately 460 million Euros. The transaction costs of this office building was approximately 93 million Euros.