Trevian and Sagax secure the future use of Nokia’s Oulu facilities – asset management agreement signed

Swedish-listed property investor AB Sagax and Trevian Asset Management have entered into an agreement to manage and redevelop Nokia’s outgoing facilities in Oulu, one of the company’s largest sites globally alongside its Espoo headquarters. As Nokia relocates to new premises during 2025, Trevian and Sagax will work together to reposition the extensive campus – close to 70,000 square metres with significant remaining development rights – for its next long-term use.

Trevian has conducted a comprehensive feasibility study examining commercial pathways for the site, including potential occupier segments, business models and the adaptability of the existing structures. The objective is to identify a viable future user, whether from a field already active in the region or an entirely new industry seeking scalable, high-capacity premises in Northern Finland.

– A property without a future user has no value. We are building on the strong foundation established by Sagax, with a shared focus on ensuring that every asset is given a clear and sustainable purpose – commercially, operationally and societally. The Oulu facilities previously occupied by Nokia are an excellent example of how we combine analysis, market insight and the ability to innovate, says Reima Södervall, CEO of Trevian Asset Management.

Sagax emphasises long-term responsibility in ownership and asset renewal.

–  Our goal is to ensure that the site continues to play a meaningful role in the region’s economic landscape and evolves to meet future needs. Trevian’s expertise and local networks create excellent conditions for this next chapter, says Jaakko Vehanen, Managing Director, Sagax Finland.

The campus redevelopment forms part of Trevian’s broader strategy in Northern Finland, where the company focuses on securing long-term vitality for major properties as industrial, digital and logistics footprints evolve. Trevian and Sagax will discuss market outlook and redevelopment opportunities in the North during their upcoming presentations at Business Arena North today, 20 November, a leading real estate and investment event for the Nordic region.

For additional information, please contact:

Reima Södervall

CEO, Partner

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