Nokia sells 48,000 sq. m. Espoo HQ in order to lease it out in future
Nokia aren’t the best cellphone developers when it comes to financial turnarounds, at least presently. They will however make sure that they draw all their bannermen in to the battlefield with every last hark they can resound. So the company has decided to sell its Espoo headquarters in Finland for 170 million Euros. What’s more interesting and inspiring is that the ex-global cellphone leaders plan to lease it out with the money earned from the sell. This has been the company’s headquarters since 1997. Head after a jump for a statement from Nokia’s CFO.
Chief Financial Officer of Nokia, Timo Ihamuotia said, ‘We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. As we have said before, owning real estate is not part of Nokia’s core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis’.