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Nokia sells Oulu Campus, leases back used space and provides room for startups

Elop

Nokia has continued to cut jobs and sell assets, absorbing some extra cash and slashing costs. The company has now sold its Peltola campus in Oulu to domestic business space provider Technopolis. The deal comes after Nokia sold and leased back its headquarters in December. The Oulu campus has gone for €30.5 million.

The company has reported profit in a recent financial report, but it's clear Nokia still has some way to go to bring everything back up to a comfortable level of operation. The sale includes 37,600sqm of office space, along with a parking garage with 800 spaces, according to the filing with the Finnish Stock Exchange. 

Much like the previous sale of its headquarters, Nokia will continue to operate from the building with 17,400 sqm under a long-term lease. The company will not be leaving the premises and cut loose all staff who currently work there. A company spokesman had the following to comment on the sale:

"Nokia will lease from Technopolis the same space that we currently use, 17,400 square metres, so our occupancy in Oulu is not affected by the sale and our operations will also continue there as today."

According to Technopolis, the property will cater for more than 100 organisations in ICT, biosciences and health, with the city of Oulu aiming to create 700 new jobs by 2016. Good guy Nokia? As the company continues to downsize and write off assets, we're likely to see a more positive outlook on the company's future. 

via: TechCrunch

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Reader comments

Nokia sells Oulu Campus, leases back used space and provides room for startups

8 Comments

Thanks Rich, a comment on a different thread, if Pakistan announced availability of the lumia's also why was it not announced here? Bangladesh gets a comment and so does every other country, many of which are quite smaller.

It's actually nice to see the larger companies selling assets to (as a side effect) provide space for other companies to operate and improve local economies. This also makes sense from a cost reduction standpoint.

How so? Maybe you should know what you are saying before you open your mouth? Selling the campus makes perfect sense and will benefit Nokia in more ways then just getting a load of cash for the sale.

They just turned their first profit in a long time, and their phones are selling really well. You might learn about current events before making stuff up.

Nokia, be prepared to manufacture quickly your next phone.  Perhaps hiring Tim Cook may help your supply chain issues. Wait scratch that, Tim Cook will bring down Apple so let him stay there.

Just GOt my lumia 620 In pakistan <3 LOvetit :D but Dap issue found on first day an dsecond day Care replaced it with new one :D 

Selling it makes sense if you are going to make changes going forward. It may be that a future Nokia won't be focussed so much on the Finland site.