YIT Builds Fourth MotorCenter in Mustamäe

YIT is building the fourth MotorCenter in Mustamäe

YIT Eesti has begun preparations for the construction of the fourth MotorCenter in the sequence in Mustamäe, near Kadaka Road.

"Several tenants of our previously built MotorCenters and other interested parties have indicated that they see a need for a service center in the Mustamäe, Kristiine and Haabersti area. Negotiations with landowners in the region proved successful. We managed to acquire a sufficiently sized property in the former holdings of Estonian Energy on Kadaka Road – in a very well-accessible hub where it is possible to serve customers from three large city districts," expressed satisfaction Margus Põim, Chairman of the Board of YIT Eesti.

MotorCenter Kadaka, an approximately 3000 m² auto-moto service center, will feature both traditional service and retail spaces as well as stock-office type business premises with office and meeting rooms for approximately ten complementary businesses. The service center's companies will provide car owners with necessary products and services such as car maintenance, technical inspections, tire work, car washing, and the sale of spare parts, tools and other necessary goods.

"As with our previous MotorCenters, we are simultaneously seeking both new tenants and a future owner for the Kadaka auto mall. 2020 proved that a MotorCenter auto mall is a very secure investment – regardless of what happens in world economy, the need for car services always remains. A contract with the new owner of Tähesaju MotorCenter has been concluded and we believe that MotorCenter Kadaka will also be a very attractive project in the eyes of potential investors," added Margus Põim.

The spaces in the MotorCenter of Tähesaju business quarter have all found their tenants, they will be handed over in early March and the center will open its doors in March.

"Interest in the business spaces of the new center is already very high today. Many entrepreneurs want to open a second or third MotorCenter service unit in the Kadaka center. However, there are also those who were late in booking space in the previous centers or were waiting for a moment when a center would be built in the area that suits them. These entrepreneurs have also put themselves in the queue in a timely manner to share in the synergy created by the businesses operating in the center," said Indrek Jakobson, Head of Commercial Real Estate Development at YIT Eesti.

"Companies considering opening their business in the MotorCenter auto mall should therefore hurry, as early interested parties will, like the tenants of the Tähesaju center, be able to participate in designing the space plan and ensure a built-to-suit solution that fits their business exactly," he added.

According to him, the area will receive much new vitality in the coming years, as several other developers have acquired plots in the immediate vicinity. "In place of the former holdings of Estonian Energy, a new multi-service business district is emerging and we are pleased that we are among the first to begin creating new value for clients in this awakening area. If everything goes according to plan, we will be able to start construction work later this year and open our fourth MotorCenter in the early autumn of 2022," noted Jakobson.

YIT is Finland's largest and Northern Europe's leading urban developer and construction company, with the aim of creating more sustainable, functional and attractive cities and living environments. The company develops and constructs apartments, business premises and complete quarters and is a specialist in complex infrastructure construction projects. Together with business partners, YIT owns real estate that supports the implementation of major development projects and offers clients services that enhance real estate value. The company employs around 7400 specialists in ten countries – Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, Czech Republic, Slovakia and Poland. YIT's 2020 revenue was approximately 3.1 billion euros. YIT Oyj shares are listed on Nasdaq Helsinki Oy stock exchange.

For more information:

Tarvo Tuga AS YIT Eesti Commercial Real Estate Sales Specialist Phone +372 50 27 119 ; e-mail: [email protected]