The premises project for If Insurance Company in Helsinki Region was successful – Ecorum acted as If’s advisor

Ecorum analyzed the premises market for best possible alternatives for If in the Helsinki Region and advised the insurance company to a favorable outcome with the lease agreement negotiations. The successful premises project lead to a long lease agreement for ca. 8.800 sqm office premises located in the fast developing Keilaniemi area in Espoo. The property will be fully refurbished and If is the anchor tenant in the building.

The cooperation between If insurance company and Ecorum began during spring 2017 on If’s Turku premises where the lease was expiring. After Ecorum had examined the market for alternatives If signed a long extension to their lease agreement. This consisted ca. 17.500 sqm of office space and approximately 1.200 employees.

The cooperation between IF and Ecorum continued in January 2019. This time the lease agreement regarding If’s Helsinki Region premises was expiring and If asked Ecorum to assists in the project to find and secure suitable premises for the coming years.

If had already outlined locations, goals and requirements for the future premises. Based on this Ecorum’s advisers contacted property owners in March 2019 to check the market for available properties. This search resulted many proposals and during spring various opportunities were investigated for alternative premises.

By the end of June 2019 there were two alternatives left. The negotiation continued in August and proposals were fine tuned.

After careful consideration and planning, the Keilalampi building in Keilaniemi, Espoo was finally selected as the number one option. The total leasable area of Keilalampi is 13,000 sqm of which 8,800 sqm will be fully refurbished for If. If signed a long lease on the premises owned by the property developer Regenero Oy.

“We had a very positive experience with Ecorum and we were convinced with their knowledge and expertise in premises projects from our Turku project. Due to this it was clear that we wished to continue this beneficial cooperation also in our Premises project in Helsinki Region. Their deep knowledge of the market brought us many interesting property alternatives and their understanding of key elements of the premises process, as well as the lease agreement, gave us confidence to close this long-term lease agreement giving us an effective premises resource for the coming years,” says Tapio Karaus, Premises Manager Finland from If Insurance.

Additional information:
Aarne Nurminen, CEO
+358 50 511 4456