K-Building in Telliskivi Quarter, Which Will Be Ready by Year-End, Is Already Leased Out
The K-building being reconstructed in Telliskivi Quarter in Tallinn is already fully leased 8 months before completion.
The office building with striking architecture, set to be completed in November, will bring over 3,000 m² of rental space to the quarter. The K-building's anchor tenant is renewable energy developer Sunly AS, and several other tenants have also found space in the building, such as real estate developer Liven AS.
As a result of reconstruction, the K-building will receive an extension and will become a modern and energy-efficient office building with the most advanced technical systems and a solar park on its roof. The building has the characteristic style of Telliskivi Quarter and creates a unique combination of historical and modern architecture together with the reconstructed historical blacksmith's shop. According to Ago Silde, representative of Telliskivi Quarter developer PLKV Investi, construction of the K-building was started before lease agreements began to be signed. "Therefore, clients who have now signed lease agreements have an excellent opportunity to receive their new office space tailored to their needs already this year".
For the building's anchor tenant, a short waiting period was also a very important aspect alongside other values, and the fact that construction is already underway provided confidence. "We are pleased to have found new office space that meets our ambitious growth plans and supports Sunly's values and principles as a renewable energy producer. The cherry on top is that we are joining a strong community, because it is in shared exciting endeavors that the energy we create daily resides," commented Sunly's CEO and co-founder Priit Lepasepp.
Next to the K-building, which is under construction, further reconstruction projects are already being planned in the popular business quarter. "Telliskivi Quarter is constantly developing and the leasing of the K-building encourages us to move forward quickly with our development plans so that we can offer new rental spaces in the coming years as well," said Ago Silde. According to him, Telliskivi quarter, located in an excellent location and innovative, continues to be highly valued both as a place to work and spend leisure time. "The distinctive and full-of-possibilities business quarter attracts both start-up companies and many others who want to offer their employees an inspiring work environment. Life in our quarter goes on 24/7 and in the development of the following buildings we will add office spaces, good restaurants, sports facilities, culture and entertainment."
Aira Veelmaa, a Uus Maa commercial real estate broker who has handled the mediation of K-building rental spaces, confirmed that companies continue to be interested in new attractive office spaces in excellent locations. "There is still interest in new spaces and established business quarters with a distinctive character are preferred, where in addition to offices there are restaurants, services and entertainment," said Veelmaa. "In such business quarters, the rental price level of new office spaces is comparable to new buildings in the city center. In addition to good location, entrepreneurs also value the synergy typical of such areas and the proximity of a wide selection of different services."
Veelmaa is convinced that the active development activities in Telliskivi Quarter, Kalamaja and more broadly in the entire North Tallinn ensure that the popularity of this area as both a business and living environment will continue to grow in the future.
