Finnish handset maker Nokia is reportedly considering selling its headquarters in Finland in order to cut huge maintenance and repairs costs.
Although the company is currently evaluating this option, it’s been confirmed several months ago that Nokia plans to sell more non-core estates, so it won’t come as a surprise if Nokia’s HQ is among these properties.
It appears that Nokia’s Maija Taimi told Reuters that “we are evaluating different options for non-core parts, such as real estate holdings, and that includes the headquarters.”
According to the latest estimates, Nokia’s HQ buildings have been valued at around 300 million EUR (390 million USD), but this is not the main reason why the handset maker is considering the sale of the property.
Nokia wishes to be more cost-efficient in the future and the ownership of such an estate, along with the maintenance and repair expenses are too high in comparison with the benefits.
This is why the company has found a clever way to keep its HQ in Finland. Basically, Nokia plans to sell the property and then rent it back from the new owner.
Word is that other major companies did the same thing in Finland in the past few years, so this is not Nokia’s idea after all. In any case, the Finnish company would continue to use the current HQ, even though it will be sold to the higher bidder.
If Nokia decides to sell, it won’t come as a surprise if the buyer will be compelled to rent the building to the handset maker. This means that the Finnish company has no plans to move its HQ abroad.
Keep in mind that the information has yet to be confirmed officially, and that Nokia is only evaluating whether or not this will be cost-efficient, so stay tuned for more updates on the matter.