CapMan Hotels II fund and Lapland Hotels expand Finnish Lapland Hotels Oulu
CapMan Hotels II fund has signed an agreement to acquire the asset “KOY Oulun Kuvernööri” in Oulu city centre, Finland, with the intention of redeveloping the building, currently used as an office, into part of Lapland Hotels Oulu. As a result of the conversion the hotel capacity will be increased by 95 rooms in order to meet the strong market demand.
KOY Oulun Kuvernööri is a five storied office property located in the city centre of Oulu, Finland, with a lettable area of 5,657 square metres. The property is part of the same building complex as Lapland Hotels Oulu. CapMan Real Estate plans to carry out a thorough renovation where the building is transformed into a hotel and rented out on a long-term lease agreement to Lapland Hotels Oulu. As part of the renovation the adjacent buildings are connected, creating one larger hotel with 250 rooms and an increased number of restaurants and meeting rooms. Street level areas of the existing hotel will also be partially remodelled. Environmental and sustainability matters are central in the renovation. Once completed, the new asset targets environmental certificate level BREEAM In-Use Very Good.
Source: capman.com on the 3rd of November 2023
https://capman.com/2023/11/capman-hotels-ii-fund-and-lapland-hotels-expand-finnish-lapland-hotels-oulu/