In Helsinki, Viikki: concrete industrial building with excellent rental yield of over 20%, a few kilometres from the start of the Lahti motorway, Helsinki

Sold by auction: a versatile concrete industrial building and the leasehold of the property, property identifier 91-36-24-2-L1, in an excellent location in Viikki, Helsinki, next to Arabianranta and a few kilometres from the Helsinki–Lahti motorway, offering excellent transport links to central Helsinki and throughout Finland.

The plot measures 3,929 m² and contains a well-maintained 1,502 m² concrete industrial hall built in 1988. It was originally built for servicing, washing and repairing heavy vehicles.

The building has two drive-through washing halls, each approximately 30 metres long and 6–7 metres high, with oil separators and a combined area of approximately 300 m².

In addition, the ground floor has approximately 900 m² of space, mainly used as a vehicle workshop. The premises have several floor drains with oil separators.

The first floor has approximately 180 m² in total of bright office, staff, shower, kitchen and toilet facilities. Not all spaces are shown in this listing.

The plot ratio is 0.6, allowing 2,357 m² of construction, of which 1,502 m² has been used. Approximately 855 m² of building rights therefore remains. Long heavy vehicles can also drive onto the plot. The property is connected to the City of Helsinki’s water, sewerage and electricity networks. The building has its own large main electrical distribution board. The industrial plot is leased from the City of Helsinki, and the land lease is currently valid until 31 December 2034.

The current rental yield after costs and excluding VAT is over 20% per year. The first-floor office space is not rented; when fully let, rental income would be nearly 30% per year if the property is sold at the reserve price. Tenants pay their own operating costs.

The property is sold free of debt, and mortgage deeds totalling approximately €2.0 million will be handed over to the buyer at completion. The property is sold with long-term tenancy agreements in place.

The property has been maintained, renovated and upgraded over the years. The building’s roof was completely renewed approximately 10 years ago. In the seller’s opinion, the buildings are in good working condition.

An appointment to view the property can be arranged by telephone on 0400 424 192.