7. OWNERSHIP STRUCTURE
OF THE OPERATION
CITIZENS OF HELSINKI
(609 000)
REAL ESTATE COMPANY
KAAPELITALO
BUILDINGS
LAND
THE CITY OF HELSINKI
The land is rented by the company from the city
with 30 year contract
8. KIINTEISTÖ OY KAAPELITALO
- real estate company
WHAT IS OUR MISSION?
To satisfy the need for cultural space (outside administrative
bodies) in Helsinki
To do our part to implement the broader strategy of our
owner - the City of Helsinki - for an attractive city of
innovation.
HOW WILL THIS BE ACHIEVED?
By bringing together a historically unique building with unique
individual tenants in order to create an internationally,
nationally and locally significant cultural centre
The company solves two of the owner’s problems
simultaneously
9. OUR CONCEPTUAL MODEL
OF A CULTURAL CENTRE
WE WANT TO BE STRONG IN C
A
department store
centralised
C
shopping centre
association
of shopkeepers
B
charity shop
no money
D
boutique
specialised
incubator
for creativity?
10. RENOVATION
- Done in several phases during the years
- No need to hurry
- With minimum requirement levels
- Following the regulations of museum
listed buildings
- Now in second, sometimes even third
round of works
11. RENTING
- According to the space division plan
- Mostly with indefinite contracts
- Nine event spaces at Kaapelitehdas,
several more at Suvilahti and the vast
field for outdoor events
- Spaces waiting for renovations can be
rented for temporary uses
- Appr. 10 customer change a year
12. CREATING COMMUNITY
- Tenants meeting each other and chosen
with the idea of finding similar interests
- Sharing resources
- Shared vision and R&D
- Mutual customers
- Everything is possible attitude
- Bottom to top model everywhere
13. COMMUNICATION
- Extremely distributed model
- Paragraph in rent contracts
- Only Web and Social Media, no prints
- No sponsorship program
- Minimal brand control
- Tenants do the “marketing” for us
15. MONEY
- cash flow driven, steady, predictable
- non-for profit
- maximum investments
- possibility to take loans
- maintaining the balance value
- different rent levels for different operations,
needs, locations etc.
- no need to include the original cost of building
the buildings into the rents
2012:
turnover 5 000 000
vs expenses 3 850 000
vs investments 850 000 + loan paybacks 300 000
vs write off 1 150 000
balance 1.1. 20 000 000 vs 31.12. 20 000 000