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. “This provides clients who have signed lease agreements a great opportunity to move into their customized new office space already this year,” 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. “We are pleased to have found a new office space that aligns with our ambitious growth plans and supports Sunly’s values and principles as a renewable energy producer. To top it off, we’re joining a strong community, as the energy we create daily is derived from collaborative and exciting initiatives,” commented Sunly’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. “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,” Ago Silde explained. He emphasized that the innovative Telliskivi Quarter, situated in a superb location, remains highly valued for both work and leisure activities. “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’ll continue to add office spaces, excellent restaurants, sports facilities, culture, and entertainment.”
Aira Veelmaa, a commercial real estate broker at Uus Maa, who facilitated the leasing of K-building’s office spaces, affirmed that there is always interest from companies in attractive office spaces located in excellent locations. “Interest in new spaces remains, and established and distinctive business districts that feature not only offices but also restaurants, services, and entertainment are preferred,” Veelmaa said. “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.”
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.
