City of Espoo prepares to sell three fire station properties
Espoo is preparing to sell the central fire station as well as the Leppävaara and Mikkelä fire stations including their properties and buildings to subsidiaries established and fully owned by LocalTapiola Real Estate Asset Management Ltd. The transaction is a result of the upcoming health and social services reform, which will lead to the transfer of rescue operations to the wellbeing services counties at the turn of the year. The City Board will discuss the matter at its meeting on 28 November.
Espoo has been preparing for the sale of its fire station properties during the summer and autumn 2022. The city received in total four offers for the property package, and LocalTapiola Real Estate Asset Management Ltd was selected as the best bidder.
The signed conditional bill of sale will enter into force after the City Board’s favourable decision becomes legally valid. The debt-free selling price of the properties is approximately €30.8 million.
Lease transfers to Western Uusimaa Wellbeing Services County in 2023
The operations of the Länsi-Uusimaa Rescue Department will be transferred to the Western Uusimaa Wellbeing Services County at the beginning of 2023. At the same time, the fire station properties’ lease will be transferred to the new wellbeing services county. Once the sale is completed, the lease will be valid for 20 years, and after that, the tenant has the option to further extend it with two five-year periods.
The new lessor will be responsible for the renovations and repairs of the properties, with the exception of the special equipment required by the user. The lessor will also be responsible for maintenance.
Despite the sale of the fire station properties, all operations of the Länsi-Uusimaa Rescue Department will continue as they are, and no changes will take place from the user’s part as all maintenance responsibilities will continue largely the as they are.
The sale of the fire station properties and buildings and the leasing of the premises from the new owner are measures taken in accordance with the Economically Sustainable Espoo programme approved by the City Council.