Restel will open a new hotel in the Töölö district of Helsinki in 2016, comprising nearly 200 rooms and two restaurants. The hotel will be located in the 11-storey Auratalo office building owned by LocalTapiola, which will undergo a complete interior renovation.
“Our new site is centrally situated in Töölö, a location with good traffic connections and substantial customer flows. We are confident that this modern city hotel will immediately achieve a strong position in Helsinki’s hotel market,” says Jari Laine, Vice President, Hotel Division at Restel.
Revitalisation through renovation
The Finnish company Lemminkäinen Corporation, a leading specialist in building construction, infrastructure construction and technical building services, is responsible for both the design and construction of the project. According to Lemminkäinen, construction work will begin in January 2015 and conclude in March 2016. The value of the contract is approximately EUR 19.5 million.
“The renovation of old buildings is a good way to revitalise cities. It also offers the opportunity to change the function of the premises, as in the case of the Auratalo property,” says Casimir Lindholm, Executive Vice President, Building construction in Finland at Lemminkäinen. The project also ensures the future viability of the property, according to Vesa Eskoli, Real Estate Investment Director at LocalTapiola Real Estate Asset Management.
Sources: Restel, Lemminkäinen