The City of Helsinki is auctioning off the legendary Kaivohuone building in Kaivopuisto. The property will be sold to the highest bidder through a competitive bidding process. In addition to purchasing the building, the buyer must also commit to leasing the land. The transaction will be finalized with the highest approved bidder, and a land lease agreement will be signed as part of the deal. The seller of the building and the land lessor is the City of Helsinki. Bids must be submitted by March 31, 2025. The sale is being managed on behalf of the City of Helsinki by Conmer Oy.
Kaivohuone ceased operating as a restaurant in October 2024 following the expiration of NoHo Partners’ lease agreement. The City of Helsinki, which owns the building, has opted not to seek a new restaurant operator but instead to put the property up for sale. The building has deteriorated and is in need of significant renovations. However, the new owner will not have free rein over its use, as Kaivohuone is a protected building under the city’s zoning plan. The buyer must strive to preserve its original appearance and potentially restore it closer to its historical design. Any change in its intended use would require a zoning amendment, which would be a lengthy process. Major renovations and modifications would also require a building permit, granted only after the city’s building control services receive a statement from the City Museum.
Kaivohuone, located along Iso Puistotie in Kaivopuisto, Helsinki, was a functioning restaurant until the fall of 2024. The building, completed in 1838, was designed by architect Carl Ludvig Engel. It was rented out for private events and operated as a restaurant, bar, and nightclub three evenings a week.