Developer of Historic Industrial Milieus

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1 LAHTI area

2 Asko area LAHTI Developer of Historic Industrial Milieus Industrial Finland has developed in leaps and bounds towards an information and service society. Industrial restructuring in the past century has moved largescale production away from former industrial blocks and left numerous historically significant properties of value empty, waiting to either deteriorate or find a new purpose. This is precisely what happened to Asko Area in Lahti in the 1990s. The owner and developer of Asko Area is Renor Ltd whose key competence is in the renovation of architectural heritage properties in developing urban environments. Renor s objective is to creatively and open-mindedly redevelop the properties in its ownership and in so doing maintain an attractive and sustainable built cultural environment in Finland. In addition to its properties in Lahti, Renor owns and develops historic properties and areas in the Helsinki metropolitan area and in Porvoo, Forssa, Hämeenlinna, Pori and Tampere. Their architectural value and stories of Finnish work efforts during many generations are the cultural heritage that we all share. As a property owner, Renor respects and savours this heritage brick by brick.

3 Asko Area in Development Asko Area, located in the City of Lahti, is Renor s largest project when measured by area. The core of the more than 30-hectare site consists of the former industrial production facilities of Finnish companies Asko and Upo. Built in the period running from 1927 to 1984, these factories are a valuable part of the Lahti cityscape and represent late industrial culture in Finland. The area plays a central role in the cultural and architectural history of Lahti. With the help of the Lahti Carpentry Factory, which was founded by carpenter Aukusti Avonius in 1918 and who later formed the Asko Corporation, Lahti grew to become the hub of Finnish industrial carpentry and furniture. Over the years, its production expanded to include household appliances and, during its operations, the company was one of the biggest employers in the region. At its peak, it employed nearly 5,000 persons. Original industrial operations in Asko Area ceased for the most part in the 1990s, after which the buildings remained empty and without any purpose for several years. However, due to its favourable location near the city centre and the railway station in Lahti, it has been possible to redevelop the area. During recent years, the former industrial premises have been formed into a versatile competence centre for creative and knowledge-intensive fields. The area houses more than 200 companies and communities that employ nearly 2,000 persons. The old industrial block has been brought alive to bloom once more. Significant Buildings in Asko Area Asko 1 (offices) Asko 2 (offices, well-being services, restaurants) Valimo (foundry)/upo1 (offices, working and production premises, logistics and storage premises) Upo 2 (logistics and storage premises) Asko 3 (logistics and storage premises, offices) Distance to the railway station 300 m. Distance to Lahti city centre 1 km. Drive from the Helsinki- Lahti motorway 2 min. Train to Helsinki 50 min. Train to St. Petersburg 2 hrs 46 min. RUOLA CITY CENTRE Mannerheiminkatu TAMPERE Valtatie 12 Valtatie 12 P ASKO 1 HTC Valtatie 12 KOUVOLA VALIMO (FOUNDRY)/UPO 1 Iso-Paavolankatu P ASKO 2 P P Vesijärvenkatu UPO 2 ASKO 3 ANTTILANMÄKI Railway station SAKSALA LIESITEHDAS (STOVE FACTORY)

4 Asko area LAHTI History of Asko Area 1918 Aukusti Avonius begins furniture production in Lahti Several factory buildings are built in what is now known as Asko Area The company is called the Asko-Avonius Furniture Factory, and its trademark is Asko Upo Metalli Ltd begins operations as a subcontractor of the metal parts used in the furniture industry The first electrical household appliance is manufactured The Lahti factory produces the first white-line appliances: a refrigerator, wringer washer, electrical stove, electrical wringer, and tumble dryer. After an expansion in 1956, the area houses the biggest furniture and household appliance factory in the Nordic countries Asko Plc founds Asko Properties Ltd. Asko Plc changes its name to Uponor Plc Uponor incorporates its real estate business into Asko Properties Ltd Asko Properties Ltd changes its name to Renor Ltd Nine Finnish investors buy Renor from Uponor Renor cleans more than 8,000 m2 of soil in the area and renovates around 37,000 m2 of new space to lease. A district cooling network is built in the area, and the building services and related technology are extensively renewed. Asko 2 receives a new roof and a new covered market square is completed. All shares of Asko 3 are transferred to Renor The development of Asko Area continues as part of the urban planning of the track-side area of Lahti. Asko factory area in Courtesy of the Lahti City Museum photo archive.

5 Looking to the Future Asko Area still possesses significant potential for development and growth. It has been developed into a collection of cultural, well-being and business services as its flexible building solutions offer premises for various purposes. Renor has extensively invested in the development of the area. Tori, the market square with a high glass ceiling, was completed in Asko 2 in 2013 to become a meeting place for the building users, and to combine its core functions, restaurants, meeting rooms and services. In 2012, a cold water station was completed that utilises the area s ground water resources. Altogether 8,000 m 2 of office space is being cooled in a new, cost and energy-efficient way. In addition to the development of the existing building stock, during the upcoming years, Asko Area will act as an important object of urban retrofit construction in the Päijät-Häme region. The historic, industrial milieu and its existing network of services and active community members create a strong base for regional development. Its central location in the core of Lahti city near the railway station and near the upcoming travel centre is another definite strength for the area. Close proximity to the railway interchange and fast connections to Russia and the capital area create an excellent setting for the development of an attractive future environment for employment and housing. The solid land ownership of the area enables integrated planning of land use, traffic arrangements and the environment, and allows fast transition to the next city planning and building phases. ASKO AREA 31 ha UNUSED BUILDING RIGHT 250,000 m 2 SPACE TO LEASE 169,000 m 2 CLIENTS 278

6 Asko area LAHTI A Forerunner in Urban Construction Thousands of new homes and hundreds of business premises will be built by the Lahti track-side in the near future. The track-side and the connected Asko Area form a dense, urban district that integrates with the city centre and combines business and living activities with extensive private and public services. The area will form a high-quality urban landscape with a low, resource-efficient environmental impact and pioneering intelligent technological solutions. Its planning has been guided by the strategic vision of Lahti as an environmental city that uses sustainable solutions that support a more ecological way of living. In 2012, Renor participated in the role of the property owner in the Lahti track-side architectural competition which was arranged as one of the major events of the World Design Capital 2012 programme. The idea for the track-side competition was a pilot project of cooperative urban planning which invited diverse groups of inhabitants and stakeholders to participate in the planning of their city environment. Architects Ltd, who won the track-side architectural competition. In the plan, Asko Area consists of 14 blocks where people live and work in an urban environment. Verdant inner courts with allotment gardens and water elements add attractiveness and comfort to the area. Pedestrian walkways free of cars and street-level shops of local cultural and refreshment services create a vivid urban space. Extensive cooperative planning continues when the project moves on to the next phase of the city plan. The objective is to quickly, phase by phase, implement the plan in cooperation with the City of Lahti, the residents of the area, and other active parties. The first track-side development project to kick off during 2014 is the construction of a travel centre near Asko Area. Renor has created Asko Area s integrated development plan in cooperation with AJAK

7 AJAK Architects visions for the development of Asko Area. Asko 2 of the existing buildings is located in block 3 and Valimo (foundry) in block 7.

8 RENOR LTD Askonkatu 13 A, 3rd floor PO Box 45, Lahti, Finland Tel Timo Valtonen CEO Tel Timo Väisänen Head of Real Estate Tel Tanja Paksunen Marketing and Communications Assistant Tel