TEGOS (formerly TGS Baltic) advised SEB in a strategic real estate transaction involving the lease of its future Baltic headquarters, to be located in a new development by Urmas Sõõrumaa in the Talsinki quarter of central Tallinn.
The building will be situated near the Admiralty Basin, between the Rotermann Quarter and the Port of Tallinn. SEB plans to relocate to the new premises in the second half of 2028.
TEGOS team, led by partner Peeter Viirsalu and including Kirsti Pent, Triinu Järviste and Artur Piisang, assisted the client in negotiating the terms of the lease, assessing the contractual risks and mitigating them. Given the fact that this is SEB’s future Baltic headquarters, our specialists resolved a number of sector-specific issues advising the client on sustainability and competition law, among others. In particular, the advice focused on balancing the terms of the long-term lease, given the multi-phase nature of the development and the construction schedule.
According to Peeter Viirsalu, this was a landmark transaction characterised by the exceptional size and complexity of the contract. In spite of the complexity of the task, the cooperation between the parties was constructive and professional.
The lease agreement was a key milestone in a project that is set to reshape the business landscape in Tallinn. The Talsinki quarter will be a car-free residential and business district with a total area of 50,000 m². It will feature three residential buildings and two commercial buildings, one of which will house SEB’s new Baltic headquarters. The quarter will also include office, retail, and service spaces.
The architectural concept is developed by Arhitekt11 and HGA, landscape architecture by TajuRuum, and interior design by Studio ARGUS and LÄVI.
