As the office market begins to rise Trevian takes a timely step to move to newly renovated premises in Helsinki’s spectacular Erottaja 2
The office market is clearly beginning to rise as the pandemic eases up and restrictions end. Asset Manager Trevian Asset Management has closely monitored rent levels, especially in Helsinki city center, and has noticed that businesses have a clearer understanding of how office work will be done in the future and are prepared to make changes to accommodate the new way of working. Increasingly this means moving to new premises which offer employees quality office space, excellent location and access to services. Trevian has decided to take timely advantage of the changing market and will move its premises to the newly renovated office building Erottaja2.
Trevian takes the opportunity and moves to Erottaja2
Trevian has led the development of Erottaja2 since 2018, and the desire to move has come from Trevian’s own staff. The building formerly owned by the Finnish state is now owned by the American investment company BlackRock. The recent large-scale renovation has modernized the premises for the new needs of businesses.
– Trevian’s move is a sign that we believe in the property’s strong future. We have created an office building, which combines aesthetic beauty with modern technology and an excellent location in the center of Helsinki. We are happy to have secured these offices for ourselves as they support our way of working perfectly, says Trevian Business Director, Elisa Loitto.
From state building to premium offices
Erottaja2 is best known as the former home of the National Board of Customs. Blackrock, one of the largest asset management firms in the world, purchased the building from the Finnish state in 2018. The property consists of three buildings, the most spectacular parts are the New Renaissance Erottajankatu building and the Art Nouveau building on Yrjönkatu.
Trevian moves into Erottaja2’s New Renaissance side this autumn. This part of the property is known for its grand entrance, coffered ceiling, ceiling paintings and historic wooden doors. As is common with properties leased and managed by Trevian, some changes will be made to the offices, so that they will meet the new tenant’s needs in the best possible way.
The office market is heating up – now is a good time to move
The office market has survived the pandemic quite well according to the numbers, high-quality offices with versatile services are especially drawing in tenants. The real estate organization Rakli announced this year’s Q1 numbers which show a decline in the vacancy rate of offices. In the past week the KTI Finland rent index also predicted the continued rent rise of Helsinki’s prime offices.
Trevian Asset Management also notes that an improved rent situation is seen with increased leasing interest and in new rental contracts.
– Businesses are now willing to make decisions regarding their premises and it seems to be clear what kind of spaces best support the new way of working. Now is a good time to switch offices, staff don’t want to come back to bad premises. They want quality, great location, services that support everyday life and flexibility between office work and working from home, says Loitto.
Trevian Asset Management is a Finnish investment and asset management company specializing in commercial and residential properties. The company was established in 2012 and is owned by its key personnel. The company produces actively managed real estate equity funds and asset management services optimized for its customers. The services are focused especially for institutional real estate investors, banks, and other professional investors. Trevian’s assets under management near 1.0B€. www.trevian.fi/en/