Consti to carry out 19-million-euro change of use for Varma in Katajanokka

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Consti Group Plc will carry out a change-of-use renovation in a historical building in the Katajanokka district of Helsinki. The project will be implemented under a management contracting model, and it will be worth approximately EUR 19 million. The work will be completed in December 2018.

Varma Mutual Pension Insurance Company has launched an ambitious renovation project of its property at Satamakatu 3 in Helsinki. The building dates from 1940, and now the old office and storage facilities will be converted into flats and a hotel.

Street view before the renovation.

The first part of the project will be implemented by Consti and involves the construction of rental flats in the side of the building on the street of Kruunuvuorenkatu. The building facade will be renovated from the roof to the wall base and all technical building services installations will be replaced. A total of 120 new rental flats will be built in the property. The courtyard will be home to a renovated car park and a new green area.

“This renovation project is exceptionally large-scale and demanding. This sensible change of use will give the historical property new life. We will be able to start the demolition work stage of the project immediately,” says Marko Holopainen, CEO at Consti Group.

“There is a shortage of small flats in central Helsinki. Changing the use of the building will bring a significant number of new, high-quality rental flats on the market. They will range in size from studios to two-bedroom flats,” says Aarne Markkula, property development manager at Varma.

Modern flats with respect for heritage

The building at Satamakatu 3 occupies an entire city block. It is partly protected by the Finnish National Board of Antiquities, which means that the facade renovation will preserve the historical appearance of the building. For example, a batch of new bricks with a burnt surface will be tailor-made for the project. Inside the building, all non-bearing structures, technical installations and surfaces will be renovated or replaced.

Artist’s impression: L Architects Ltd.

Over the last few years that the building was in use, inappropriate structural solutions caused poor indoor air quality. The refurbishment will be so comprehensive that the building will become as good as new.

“Studies have revealed moisture damage in the cork used as thermal insulation in the facade. We will completely rebuild the facade to eliminate all problems,” says Jorma Varjus, general foreman at Consti.

“The completed building will be one of Katajanokka’s landmarks, offering comfortable living in a great location. It will be a great addition to Varma’s portfolio of rental properties,” Markkula says.

 

For further information, please contact:

Consti Group Plc, CEO Marko Holopainen, tel. +358 400 458 158, marko.holopainen@consti.fi

Varma Mutual Pension Insurance Company, Property Development Manager Aarne Markkula, tel. +358 40 522 6927, aarne.markkula@varma.fi

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