Rental operations

Our rental operations grew and became more diverse

We are increasingly providing on-campus premises to non-university operators.

We provide premises on the following campuses outside the Greater Helsinki region: Hämeenlinna, Joensuu, Jyväskylä, Kajaani, Kuopio, Lappeenranta, Oulu, Rauma, Rovaniemi, Savonlinna, Tampere, Turku and Vaasa.

Our strengths include our premises’ locations on attractive campuses and our cost-effective pricing.

Our occupancy rate in 2016 was in line with our target at 95.6 per cent. Vacant premises accounted for 4.4 per cent of the property portfolio.

From the lessor perspective, the market remained challenging in 2016. Nevertheless, we were able to provide good premises, locations and services. We developed our operations by reorganising tasks and job descriptions as well as by expanding our partner network. This work will continue in 2017.

Our rental operations grew and became even more diverse in 2016. We increasingly rented out premises to non-university tenants. For example, the Kampusareena building located on the Tampere University of Technology campus got 14 new tenants during the year.

The highlights of the year included two universities of applied sciences deciding to relocate to university campuses in Oulu and Lappeenranta. This represented a significant first step nationally in Finland: universities and universities of applied sciences are now operating on the same premises for the first time at this scale. The sharing of campus premises presents significant potential synergies.

Also completed in 2016 were the renovation of the Teacher Training School of the University of Turku, the joint dentistry building of the University of Oulu and the City of Oulu, and ARVO, a newly constructed building for the University of Tampere School of Medicine. Each of these projects enabled the continuation of the customer’s operations or the creation of new agreements and customer relationships.