For sale: two commercial premises and seven storage units at Hämeenkatu 23, Riihimäki

Property for sale

The bankruptcy estate of production company Hihhihhii Oy is selling the shares in Kiinteistö Oy Tilhilaakso, at Hämeenkatu 23, 11100 Riihimäki, which entitle the holder to manage commercial premises A2 and A3 and storage units A2, 2, 3, 4, 5, 6 and 7.

All shares are sold as a single lot. Seller: the bankruptcy estate.

Charges and charge liabilities

The maintenance charges for the shares total €9,306.09/month. No financing charges.

Kiinteistö Oy Tilhilaakso has no receivable maintenance charges related to the commercial premises.

The general meeting of Kiinteistö Oy Tilhilaakso decided on 2 May 2024 to take management of the commercial premises and storages for three years. Once the sale with the bankruptcy estate has been completed and the purchase price paid, the housing company will hand over management of the commercial premises and storages to the new owner. Note that some premises and some of the storages are currently leased.

Leased premises

Commercial premises A2 and A3 and storage A2 are leased for the fixed term 1 January 2026 - 2 May 2032. Rent is €8,500/month + applicable VAT, plus water charge €43.98/month + applicable VAT. The tenant has their own electricity contract. The lease contains a tenant option under which the tenant may extend the agreement on the same terms as a fixed term of at least five years after the expiry date. The tenant must notify the landlord of the exercise of the option at least six months before the lease expiry. If no new agreement is made between the tenant and the landlord, the agreement continues as a contract of indefinite duration. The notice period for both tenant and landlord is then six months.

At the time of preparing this listing, storage 6 is also leased (rent €430/month) and storage 5 is leased (rent €60/month).

Property details

The properties for sale are located in an apartment building constructed in 1951. The commercial premises are on floors 1–2 and the storages are in the basement.

Commercial premises details:

- Commercial premises A2 (shares 643–2579), 673.5 m²

- Commercial premises A3 (shares 2580–3840), 438.5 m²; the premises include a 16.5 m² duct/ventilation space

Storage details:

- Storage A2 (shares 370–642), 90.0 m²

- Storage 2 (shares 7549–7594), 15.0 m²

- Storage 3 (shares 7595–7620), 8.5 m²

- Storage 4 (shares 7621–7639), 6.0 m²

- Storage 5 (shares 7640–7701), 20.0 m²

- Storage 6 (shares 7702–7934), 96.0 m²

- Storage 7 (shares 7935–8767), 363.0 m²

The total area of the commercial premises is 1,112 m² and the total area of the storages is 598.5 m². Areas have not been survey-measured.

Movable property is not expressly sold with the transaction, but there may be some items and clothing in storage unit 7 that will be included. The buyer is responsible for disposing of any property located in unlet storage spaces.

Other notes

The company needs a plumbing/pipe renovation. The company’s repair needs assessment notes that a condition survey of the water and sewer system is forthcoming.

Pursuant to section 5 of the articles of association, owners of the shares entitling them to manage the commercial premises have the right to keep ventilation and air-handling equipment in the building’s attic, in an IV machine room of approximately 67.5 m², free of charge. The maintenance, upkeep and operating costs of this equipment are borne by the owners of those shares in proportion to the area they control. Note that the ventilation unit in question is over 25 years old.

Pursuant to section 8 of the articles of association, notwithstanding the provisions of the Housing Companies Act on the repair and maintenance obligations between the company and a shareholder, the shareholder is responsible for all repair and maintenance works and costs that can be attributed to the building in which their unit is located. The same responsibility applies to other premises controlled by the shareholder.