In February 2024 Niam finalized the acquisition of the renowned Tennis Palace, a historic landmark in the heart of Helsinki. Originally constructed in 1937 as a car workshop for the planned Helsinki Olympic Games, the Tennis Palace has evolved over the decades, serving diverse purposes including as a department store and a tennis center.
Niam Secures Landmark Acquisition of Helsinki's Iconic Tennis Palace
We are pleased about this opportunity to acquire the iconic building from City of Helsinki. Tennis Palace is one of the city's most famous landmarks and has served many different purposes throughout its long and colorful history.
Spanning a total lettable area of approximately 16,000 sqm, the property is strategically located next to the Kamppi shopping center, metro station, and bus terminal. Finnkino, Finland's largest cinema operator, occupies a significant portion of the Tennis Palace with 14 auditoriums and over 2,500 seats. Additionally, the Helsinki Art Museum HAM, currently in pursuit of new premises, is another prominent tenant in Tennis Palace.
“We see a lot of potential in both the location and the asset”, says director Markku Strömberg, responsible of the Asset Management of Tennis Palace at Niam. “The recent opening of Kulttuurikasarmi, an entertainment center, exemplifies the positive development of the Kamppi area” he continues.
Protected under the designation of sr-2, the Tennis Palace is recognized for its cultural and historical significance, ensuring its preservation for generations to come.
