Concrete industrial building in Viikki, Helsinki — excellent rental yield over 20%, a few kilometres from the Helsinki–Lahti motorway entrance, Helsinki

For sale by auction: a concrete multi-purpose industrial building and the leasehold of the property, property ID 91-36-24-2-L1, in an excellent location in Viikki, Helsinki, next to Arabianranta, a few kilometres from the Helsinki–Lahti motorway, providing excellent transport links to Helsinki city centre and across Finland.

The plot is 3,929 m2 and contains a well-maintained 1,502 m2 concrete industrial hall built in 1988, originally designed for heavy vehicle service, washing and repairs.

The building has two drive-through wash halls of about 30 metres each, approx. 6–7 metres high, with oil separation sumps totalling approximately 300 m2.

On the ground floor there is a further c. 900 m2 space currently largely used as an auto repair shop. The premises have several floor drains with oil separators.

On the second floor there is about 180 m2 of bright office, social, shower, kitchen and WC facilities. Not all spaces are shown in this listing.

The building rights for this plot are 0.6, i.e. 2,357 m2 may be built; 1,502 m2 has been used, leaving approximately 855 m2 of unused building rights. The plot can be accessed by long heavy vehicles. The property is connected to Helsinki city water, sewer and electricity networks. The building has its own large main electrical switchboard. The industrial plot is leased from the City of Helsinki and the ground lease is currently valid until 31 December 2034.

Net rental yield after expenses and excluding VAT is currently over 20% per year. The second-floor office is vacant; if fully let, the rental income would be almost 30% per year,

if the property is sold at the reserve price. Tenants pay their own operating costs.

The property is sold free of debts and mortgage deeds of approximately €2,000,000 will be handed to the buyer at completion. The property is sold subject to long-term leases.

The property has been maintained, renovated and updated over the years; the roof was fully renewed about 10 years ago. The seller considers the buildings to be in good working condition.

Viewings can be arranged by phone at 0400 424 192.