A property owner cannot always know in advance which actions are worth taking. We greatly value a service provider that can put itself in the customer’s position and calculate the monetary value of things. I am particularly pleased with the way that LeaseGreen’s experts clearly distinguish the investments that are not financially profitable for the customer.

Iiro Nurkkala, Director, Finance & Administration, Catella Asset Management

The project involved planning and carrying out a renovation of the building automation system and the ventilation units. At the same time, updates were made to the heating, heat recovery and lighting systems.

“The buildings’ control will be much easier once the automation and ventilation are up to date,” says Iiro Nurkkala, Director of Finance and Administration at Catella Asset Management.

“The modern, remotely controlled technology makes the buildings more attractive to potential tenants and saves energy. In these kinds of Finnish properties, control of indoor conditions usually entails someone complaining about being cold in the autumn and a maintenance person going to turn the heating up to the maximum. At some point in the spring, it will then get much too hot.”

The properties renovated for Catella by LeaseGreen are located at Ohrahuhdantie 4 and Välitalontie 71 (pictured) in Helsinki. They have a total area of 7 700 m2, containing offices, logistical facilities and warehouses, among others. The investments were carried out using LeaseGreen’s financing solution, which in practice means that the energy savings generated by the project are greater than the costs of the financing.

The investments are expected to produce returns of 16–22 per cent, excluding the financing costs. The estimated value of the energy savings is approximately 500 000 euros over the investments’ life-cycle.

Catella is a property investment company listed on the Stockholm Stock Exchange, which offers property portfolio management and consultancy services in Finland. Catella manages around 40 properties. Nurkkala says that Catella has made a framework agreement with LeaseGreen with the aim of surveying the development opportunities of 29 properties in total.

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