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New urban development project “Kotka Old Port” (Finland)

New urban development project “Kotka Old Port” (Finland).Common view.

Location

The project is located on the territory of the historic port of Kotka, situated on the north-east of the Scandinavian Peninsula, 60 km from the Russian border and 130 km from Helsinki.

Kotka is situated within 6 km from the modern E18 motorway as the main road in Scandinavia, connecting Oslo, Stockholm, Helsinki and St. Petersburg.

Architecture, Masterplan and Concept

The project is more than just design and construction, Kotka Old Port is a new lifestyle and environment, a centre of cultural, recreational and business life of the city, an opportunity for sightseeing, shopping and relaxation for Finnish residents as well as for tourists from Russia and other countries.

The concept involves integration of the old port into the city central areas and establishment of a lively modern environment, complementing the existing infrastructure. The anchor of the project is a designer outlet centre, with the total of 47,500 sq.m. The project will also inlcude two modern 3* and 4* hotels with conference facilities and spa complex, cinema, promenade with restaurants and bars, residential complex with its own infrastructure, big box retail and 130-berth marina. Kotka will get a direct cruise line connection to St Petersburg.

The project is distinguished by original architectural design and exquisite atmosphere. The concept and design of the outlet center was developed by an international team of architects, it has a unique image and style.

The project will be certified with BREEAM Communities.

Designer Outlet Centre

The Designer Outlet Center is the anchor of the masterplan for regeneration of the historic port of Kotka. It will include over 200 shops by leading European brands.

The architecture is developed on the narrative of a traditional Finnish fishing village with focus on wood and stone.

The mall will be entirely enclosed allowing for a comfortable shopping experience throughout the year.

The total area of the Outlet Centre is 47,500 sq.m. including 19,450 sq.m in Phase 1.

Development Team and Major Experts

The project enjoys extraordinary support from the City Administration of Kotka and Cursor Oy, Regional Development Agency for Kotka-Hamina, South-Eastern Finland. The agencyaims to increase competitive advantages of the region and encourage its economic growth.

Project architect is an international company AHR.

Project developer is GVA Sawyer. Its partners are:

  • PRECP (Pacific Real Estate Capital Partners), one of Europe’s most prominent real estate investment managers and financiers. Gerald Parks, CEO of PRECP, is a world-renowned expert in investment management;
  • Milligan, a famous European retail real estate developer. John Miligan, CEO of the company, has more then 30 years of experience in British and European markets;
  • Byrne Murphy, one of the most significant partners, brought outlet shopping to Europe from America more than 20 years ago.

Outlet Centre Investor

Coneplace Limited is a subsidiary of BMT Private Equity Limited.

BMT Private Equity Limited is an investment vehicle of a group established by Dmitry Zimin, Founder and Honorary President of Vimpelcom.

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The project masterplan is in place and has undergone approvals. The design for the outlet centre is in full swing. Construction permit was received in July 2015 and the opening of Phase 1 is scheduled at the end of 2018.

Details: www.kotkaoldport.com. www.gvaworldwide.com