The SEK740m (£65m) is for real estate investment company Exilion.
The premises were built in 1909 and have been occupied since then by Finland’s state-owned railway and logistics company VR Group. Significant sections including corridors, the main stairs and original furniture will be preserved in the renovation. The project team will work in close cooperation with the National Board of Antiquities and the city of Helsinki.
“It’s an honour for NCC to renovate this building, which has great historical significance and was designed by the famous architect Eliel Saarinen,” said Mika Soini, head of NCC Building Finland. “In cooperation with Exilion and Scandic Hotels, whose collection the new hotel will belong to, we will surely transform this building into a landmark hotel in the heart of Helsinki.”
Renovation work begin by the end of this year and the new hotel is due to be ready at the turn of the year 2020-2021.