US Real Estate Signed Contract with 1Partner Construction for the Next Phase of Park Tondi Development
US Real Estate and 1Partner Ehitus, both owned by Urmas Sõõrumaa, have signed a construction contract to build a modern office building in a historic building located in the Park Tondi residential and business district in Tallinn. The building will be completed by the end of this year.
The tsarist-era building located at Sõjakooli 6 in the Park Tondi residential and business district was used as a bathhouse and fur storage facility for the Estonian Defence Forces military school before the beginning of the Soviet occupation. After the completion of construction work in December of this year, the building will have a total of 1,500 square meters of quality and modern office space across two floors. The building's tenant will be the financial company Bondora.
"Giving new life to buildings with a respectable history is one of the important activities of 1Partner Ehitus, and so we are accustomed to working hand in hand with heritage conservation requirements. In this project, the timeline is a particular challenge, as the client wants to take the building into use this year," explained Üllar Hinno, head of 1Partner Ehitus.
The architectural project for the reconstruction of the Sõjakooli 6 building has been prepared by Tomomi Hayashi and Hanno Grossschmidt from the architecture office HGA Arhitektid.
"With the construction of the club building at Sõjakooli 6, we are marking the beginning of the second phase of development of the Park Tondi residential and business district. The construction schedule is challenging and I am extremely pleased that 1Partner Ehitus has accepted it and the building's tenant Bondora will be able to move in by the end of the year. Next, we will continue the development of the district towards Tondi street and begin construction of the Sõjakooli 1 office building in the historic barracks building," commented Uko Paasik, head of real estate development at US Real Estate.
1Partner Ehitus, which is part of the 1Partner Group, is a company providing comprehensive construction services, and its most recent work was the restoration of the legendary Tallinn Flower Pavilion, which was completed in December of last year. In addition, the company's team has renovated several well-known buildings, such as Mon Repos and Tuljaku restaurant buildings in Kadriorg and Noblessner, Kai, Põhjala Brewery, Shishi headquarters, and Staapli 10 business building, which was nominated in 2021 for the Heritage Board's "Well-restored building in a heritage conservation area or buffer zone 2021" annual award.
US Real Estate is a real estate company owned by Urmas Sõõrumaa, with a portfolio of over 130,000 m2 of rental space and over 200,000 m2 of space under development. The company owns commercial, educational and sports properties and develops comprehensive business and living environments, including Patarei Sea Fortress, Golden Gate, Park Tondi, and Rotermann Quarter. The total value of the company's real estate portfolio exceeds 300 million euros.
