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2024 is an ideal time for leasing new office space

The K-building, currently under reconstruction in the Telliskivi Quarter in Tallinn, has already secured lease agreements 8 months ahead of completion.
The prominently designed office building, set to be completed in November, will add over 3000m2 of rental space to the quarter. The anchor tenant for the K-building is the renewable energy developer Sunly AS, and the building will also house several other tenants, including real estate developer Liven AS.
As a result of the reconstruction, the K-building will feature an extension, transforming it into a modern and energy-efficient office space equipped with state-of-the-art technology systems and a rooftop solar park. The building maintains the characteristic charm of the Telliskivi Quarter and, alongside the renovated historic blacksmith workshop, creates a unique blend of historical and modern architecture. Ago Silde, a representative of the developer PLKV Invest, mentioned that construction on the K-building began prior to the initiation of lease agreements. &#8220;This provides clients who have signed lease agreements a great opportunity to move into their customized new office space already this year,&#8221; he said.
For the anchor tenant, a short waiting period, among other values, was a crucial aspect. The fact that construction was already underway provided a sense of security. &#8220;We are pleased to have found a new office space that aligns with our ambitious growth plans and supports Sunly&#8217;s values and principles as a renewable energy producer. To top it off, we&#8217;re joining a strong community, as the energy we create daily is derived from collaborative and exciting initiatives,&#8221; commented Sunly&#8217;s CEO and co-founder, Priit Lepasepp.
Beside the under-construction K-building, there are already plans for further reconstruction projects in the popular business district. &#8220;The Telliskivi Quarter continues to evolve, and the leasing of the K-building encourages us to move forward quickly with development plans so that we can offer new rental spaces in the coming years,&#8221; Ago Silde explained. He emphasized that the innovative Telliskivi Quarter, situated in a superb location, remains highly valued for both work and leisure activities. &#8220;As a distinctive and versatile business district, it attracts not only start-up companies but also many others who seek an inspiring work environment for their employees. Life thrives here 24/7, and as we develop additional buildings, we&#8217;ll continue to add office spaces, excellent restaurants, sports facilities, culture, and entertainment.&#8221;
Aira Veelmaa, a commercial real estate broker at Uus Maa, who facilitated the leasing of K-building&#8217;s office spaces, affirmed that there is always interest from companies in attractive office spaces located in excellent locations. &#8220;Interest in new spaces remains, and established and distinctive business districts that feature not only offices but also restaurants, services, and entertainment are preferred,&#8221; Veelmaa said. &#8220;In these business districts, the rental prices for new office spaces are comparable to those in new downtown buildings. Aside from a great location, the synergy inherent in such areas and the proximity of diverse services are very important to entrepreneurs.&#8221;
Veelmaa is confident that the active development in the Telliskivi Quarter, Kalamaja, and the broader North Tallinn area will ensure that the popularity of this region as both a business and residential environment will continue to grow in the future.

The K-building in Telliskivi, which will be completed by the end of the year, has been fully rented out

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