Cityvarasto Plc | Press Release | 20 October 2026, at 11:35 a.m. EEST
Cityvarasto Completes One of the Largest Acquisitions in Its History - Nearly 15,000-Square-Metre Building on Mäkelänkatu in Helsinki
Cityvarasto Plc continues its strong growth and has acquired from LähiTapiola a property located at Mäkelänkatu 58-60 in the Vallila district of Helsinki. The property comprises a building with a gross floor area of approximately 14,800 square metres. The acquisition represents a significant step in the expansion of Cityvarasto's network of locations in the Helsinki metropolitan area. Cityvarasto plans to develop a new self-storage hotel at the centrally located property, which is expected to open during 2027.
"This is an exceptionally significant property acquisition for us and an important milestone in Cityvarasto's growth story. Acquiring a property of this size in a prime location within central Helsinki presents an excellent opportunity for us. Vallila combines dense residential development, vibrant business activity, and excellent accessibility, making it a highly attractive location. The size of the property and its versatile potential uses provide us with substantial opportunities to develop our business over the long term," says Ville Stenroos, CEO of Cityvarasto Plc.
Vallila is known as a diverse residential and business district where a traditional industrial environment has gradually evolved into a vibrant hub for commerce and urban life. The area's dense population and small residential units increase demand for storage space outside the home, while its broad business base creates demand for flexible space and storage solutions.
The property is located in a busy and densely populated area, with more than 100,000 residents living within a five-minute drive and over 41,000 vehicles passing the site each day. The location offers excellent accessibility by both private and public transportation. Tram connections from the immediate vicinity provide direct access to Pasila railway station and the Tripla shopping centre, while major transport routes in the Helsinki metropolitan area, including Tuusulanväylä and Ring Road I, are also easily accessible.
The property on Mäkelänkatu was originally constructed for industrial use and has served a variety of purposes over the years. In addition to industrial operations, it has housed retail and office premises, and today the ground floor is occupied by K-Market Mäkelänkatu.
Cityvarasto aims to develop a new self-storage facility at the property, with opening planned during 2027. A significant portion of the building will, however, continue to be used for a variety of commercial and business premises in the near term, while the amount of self-storage space will be increased gradually in line with market demand.
"This acquisition complements Cityvarasto's network of locations in the Helsinki metropolitan area by establishing a presence in a district where the company has not previously operated a self-storage facility. At the same time, it strengthens the company's position in the Helsinki real estate market and supports its long-term growth strategy of expanding its location network and developing existing properties to meet the evolving space requirements of residents and businesses," says Ville Stenroos.
Further enquiries
Ville Stenroos, CEO, Cityvarasto Plc, tel. +358 29 123 4747
Information about Cityvarasto
Cityvarasto is a Finnish company established in 1999, operating in the self-storage sector. In addition to the parent company Cityvarasto Plc, the Cityvarasto Group includes, as its principal subsidiaries, PakuOvelle.com Oy, which specialises in van rentals, as well as moving services companies Suomen Opiskelijamuutot Oy and Ja-Ki Muutto Oy. The company's shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol CITYVA.
