News

18. Aug 2015

Nordecon signed an agreement for the construction of the Arsenal Center in North-Tallinn

Nordecon AS concluded an agreement with Arsenal Centre OÜ for the construction of Arsenal Center planned at the corner of Erika and Tööstuse St. in Tallinn. The cost of the retail and business center constructed from red brick production buildings from the tsarist period is about seven million Euros.

Nordecon AS concluded an agreement with Arsenal Centre OÜ for the construction of Arsenal Center planned at the corner of Erika and Tööstuse St. in Tallinn. The cost of the retail and business center constructed from red brick production buildings from the tsarist period is about seven million Euros.

“We are happy to announce a major construction agreement which will provide a promising development area in Tallinn with new high-quality retail and service areas and a new life for these old dignified industrial buildings,” said Avo Ambur, board member at Nordecon AS. “The exterior of the current structures will be renovated and the historical facades remaining inside the center will be fixed up.”

Aadu Oja, Director of Arsenal Centre OÜ explained that about 15 000 square meters of office and retail areas will be ready at stage one of the development, with 35 shops and service providers, and five cafes and restaurants currently planned there. “One of the anchor tenants of the Arsenal Center will be a Selver supermarket. As North-Tallinn does not yet have a lot of retail and service areas that would correspond to contemporary criteria, there should be no difficulties with finding the other tenants.”

The 12-month construction period includes the conversion of three current buildings into one shopping center. The buildings are joined together and the space between them is lifted up to form a park landscape with container planting above the retailing area, edged by cafes and entrances into offices. The floors of the new retailing areas between the existing buildings will be lifted above the ground level to even up the entire internal ground floor area.

The side facing Erika St. will have three floors. The ground floor is designated for retail and office areas, the first and second floors for office areas and technical spaces servicing the building. The side of the center facing Tööstuse St. is a single-floor retail area.

See more at arsenalkeskus.ee.