As of today, 6 October, the Foorum Centre is owned by US Real Estate, owned by Urmas Sõõrumaa, who bought the centre from Foorum Invest OÜ and Foorum Valduse OÜ.
“We would like to start immediately with giving the Foorum Centre a new face, so that it becomes a recognizable part of the city centre and becomes the gateway to the Rotermann Quarter from Narva Road,” said Urmas Sõõrumaa, owner of US Real Estate. “We will bring the ground floor of the building closer to the intersection of Hobujaama and Narva Road and significantly improve the spatial dialogue between Rotermann and Foorum.”
According to Martin Kolga, chairman of the board of US Real Estate, there will also be a very strong change in the content of the Foorum Centre shopping street. “In addition to refreshing the look of the building, we will bring new brands to the centre, which are currently lacking in the area,” said Kolga.
Foorum Centre is a modern A+ class building built in 2007, located at the intersection of Hobujaama Street and Narva Road. On the ground floor of the office building there is a shopping street connecting Hobujaama and Narva highways. Office space is located on the upper floors of the building. In total, the leasable area is 9600 sqm, half of which is retail and half office space. The entire building is fully let to 50 tenants, the largest of which are KPMG, Vapiano and Swedbank. There are 135 parking spaces on the ground floor.
The City of Tallinn has signed a tramway contract, under which the new tramway will run between Rotermann and Foorum.
“The City of Tallinn has big plans for the tramway and Hobujaama Street will get a new look as a result. Our wish is to create a pleasant urban space in front of the Post House, the Forum and Rotermann, with a square with seating, landscaping and a playground, in order to move more vigorously towards improving pedestrian well-being,” said Martin Kolga.
The transaction was financed by LHV Bank. The seller was advised by Ellex Raidla and Redgate Capital in cooperation with Newsec Baltics. The transaction was cleared by the Competition Authority prior to closing.