Senate Properties has sold the historic “Pankkitalo” building at Eteläesplanadi 16 for EUR 13.5 million to Kiinteistöosakeyhtiö Eteläesplanadi 16.
The acquiring company is owned through their respective companies by Peter Seligson, Per Josefsson, Ilona Kivimäki, Ilkka Kivimäki, Patrik Sarajuuri and Timo Taivalaho. The new owner intends to reposition the building to its former standard and provide high-quality space in a prime central location.
Senate Properties had been attempting to sell the property since 2013. In February 2024, Senate Properties announced that the property had received a total of 13 offers, with the price estimated at EUR 21.3 million. At that stage, the asset had buyers; however, they ultimately withdrew from the transaction. As a result, the property was returned to the market.
Originally completed in 1909, the stone building was designed by architect Lars Sonck and originally constructed for banking use. The property was expanded in 1956 and again between 1965 and 1967. It comprises seven floors and a basement, with a total gross floor area of approximately 4,910 square metres (the gross floor area differs from lettable area, which is assumed to be lower). Among its most notable interior spaces is Sonck Hall, the former banking hall.