VR Group sells Vallilan Konepaja property located in Helsinki to Bruce Oreck, former U.S. Ambassador to Finland for 11 million euros

VR Group has sold the Vallilan Konepaja property located in Helsinki to Bruce Oreck, former U.S. Ambassador to Finland for 11 million euros.

The property has been on the market for quite some time, generating substantial interest from different potential buyers due to its unique location and cultural significance. The city block in question is a site with great potential and demand for development.

Due to the history of the property, the sale was a high-profile case featured in media, attracting significant interest from potential buyers and prompting VR Group to consider their strategic options regarding the property. Aventum served as sole advisor for VR Group throughout the process, advising on strategic alternatives as well as managing the sale process.

After a thorough sale process, the land area and three buildings of Vallilan Konepaja, the Paint Shop, the Assembly Hall and the Electric Train Building, were sold at market terms. The new owner, former U.S. Ambassador to Finland, Bruce Oreck, intends to develop and transform the buildings into a communal dynamic space with spaces for retail, dining and offices.