SEB Bank will relocate its headquarters from its current location in Tallinn’s Tornimäe district to the new Talsinki residential and business quarter, which is set to be completed by 2028. The bank’s current office building, an iconic 24-story structure completed in 1999, will undergo a major renovation, with plans for reopening slated for 2030.
When the Tornimäe skyscraper was completed, it became Estonia’s first high-rise building and has since served as the headquarters for Eesti Ühispank, which is now known as SEB Bank. However, in April, the bank announced plans to move its operations to a new location.
The Tornimäe building is owned by East Capital Group, which purchased it from Partners Group and Northern Horizon in 2020 for €45.75 million. Martin Otsa, a member of the management board and head of investments at East Capital, confirmed that the building will be extensively renovated after SEB vacates it. The renovation will focus on enhancing the building’s energy efficiency and modernizing its design, with a planned reopening by 2030. Though it is too early to discuss future tenants, Otsa emphasized that the building will remain a multifunctional space, featuring office areas, restaurants, and services catering to daily needs.
The real estate fund, East Capital Real Estate IV, currently manages the building, which offers approximately 16,000 square meters of leasable space.
In 2028, SEB Bank will move its headquarters to the Talsinki quarter, which will be built along the Admiralty Basin, across from the Golden Gate site. SEB’s Management Board Chair, Allan Parik, explained in April that the bank had been looking for a new headquarters location for some time. While the Tornimäe building has long been a landmark in the area, Parik noted that both business and urban development are increasingly moving towards the waterfront.
The Tornimäe building was designed by architect Raivo Puusepp.
