The University of Helsinki Student Union board plans to propose significant property transactions to its representative council next week. The deals involve selling multiple properties owned by the student organization.
HYY and its property company Ylva declined to comment on decision-making materials before Wednesday's meeting. The property sale items will be discussed behind closed doors due to business secrets.
Student union properties potentially up for sale include the New Student House, Grand Hansa Hotel, Kaivopiha commercial property, and Leppäsuo student housing. Only partial ownership of the Old Student House and Domus Gaudium would remain, along with Unicafe student restaurants.
Ylva property company faces financial difficulties and negotiates property sales with banks. The company's CEO stated earlier that banks extended debt repayment deadlines until year-end while negotiations continue for selling multiple properties.
Once the student union was financially strong, but failed property investments created current economic challenges. The student union owns several landmark buildings in central Helsinki that serve student activities and housing.
Decisions about the property sales and their impact on student organization facilities will be communicated to members after the representative council meeting concludes. The outcome could substantially change the student union's asset portfolio.
This represents a dramatic shift for what was once considered one of Finland's wealthiest student organizations. The property sales would mark the end of an era for student ownership in central Helsinki locations.