The Finnish special investment fund eQ Yhteiskuntakiinteistöt (eQ Community Properties) has acquired a combined school and business park property located in Niittykumpu, Espoo, from Varma Mutual Pension Insurance Company for €43.9 million. The transaction was concluded on June 30, 2025. In connection with the deal, Varma also became an investor in the eQ Yhteiskuntakiinteistöt fund. The size of Varma’s fund investment has not been disclosed by the parties.
The property’s main tenant is the City of Espoo, and it houses Niittykumpu School, located at Vuoritontuntie 18–22. Vuoritontuntie 18–20 is in educational use, while Vuoritontuntie 22, known as Uusikumpu Business Park, is an office building. According to information from eQ’s website, the total leasable area amounts to 14,200 m². Based on the Finnish Land Survey’s purchase price register, the purchase price was €43.9 million, which translates to approximately €3,091 per m². According to information from eQ’s website, slightly more than 3,000 m² of the space are currently vacant.
The buildings were originally completed in 1966 and 1971, and underwent a full refurbishment in 2019. The property holds BREEAM In-Use environmental certification, reflecting a high standard of sustainability and operational quality.
Niittykumpu School serves nearly 450 pupils in grades 1–6. The City of Espoo agreed to a 20-year lease with Varma, which took effect in 2019. The agreement repurposed the former Outokumpu headquarters into educational premises. As of mid-2025, approximately 15 years remain on the lease.
Niittykumpu is located in Southeast Espoo. The district currently has about 7,100 residents, with the population projected to grow to approximately 12,000 by 2030. The property is within a short walking distance of the Niittykumpu Metro Station and the adjacent Niitty Shopping Center. Cultural and recreational destinations such as Tapiola Sports Park are also easily accessible,