The teams from US Real Estate and 1Partner Ehitus held a topping-out ceremony for the new building in the Park Tondi residential and business quarter. Sõjakooli 6, which used to be a tsarist-era house, is being transformed into a modern office building.
“I am pleased that alongside the development of the Park Tondi new buildings, we have the opportunity to reconstruct some of the architectural heritage. The more than 100-year-old walls of this building will now have a new lease of life, creating a pleasant working environment,” said Martin Kolga, CEO of US Real Estate.
Kolga added that the current fear prevailing in the commercial real estate market is somewhat exaggerated. “The success of the first phase of Park Tondi gives us the confidence to undertake future development projects. In times of high inflation, cash-flowing commercial real estate remains a good investment,” he noted.
Prior to the start of the Soviet occupation, Sõjakooli 6 was used as a sauna and quarters for the Estonian Defense Forces’ military school. After the completion of construction works, the building will be finished in December of this year and will offer a total of 1,300 square meters of high-quality and modern office space, all of which has been leased to the financial company Bondora.
“Every building has its own story – in addition to its architectural value, there is also the story of the people who have lived and worked in the house. Bondora’s 15-year success story is based on our people. By moving to the new Park Tondi quarter, which is rich in historical heritage, we can offer our employees a modern and inspiring work environment and set new goals for Bondora. In doing so, we create a new story for both this building and Bondora,” commented the tenant of the building, Bondora founder and CEO Pärtel Tomberg.
The office buildings at 6 Sõjakooli are being renovated by 1Partner Ehitus, and the architectural project has been prepared by Tomomi Hayashi and Hanno Grossschmidt from the architecture firm HGA Arhitektid.
US Real Estate continues the development of the Park Tondi quarter. The next step is the development of Park Tondi Residents, and active leasing activities are already underway in the historical barracks building on Tondi street, which will soon be renovated into modern office spaces. “The former barracks building at Sõjakooli 1 will feature unique row offices spread across three floors, each with a distinctive character. It will become one of the most distinctive office buildings in the area, with the city’s best sports facilities just a few minutes’ walk away,” said Martin Kolga.