The history of Oulu can be traced back some 400 years. Uusi Seurahuone wasn't born yesterday (or the day before) either. We have to go back as far as to a November day in 1882 when the centre of this former town of wooden buildings was reduced to dust in a major fire. Two years later, a private home, the Petrell palace, of captain Johan Fredrik Petrell arose by the sea. Today, the palace is known as Uusi Seurahuone.

Uusi Seurahuone is a Neo-Renaissance building designed by architect Hugo Neuman from Oulu. Many locals remember referring to the building as Teräksen talo ("House of steel"). This name was used for years as a reminiscence of Rautakauppa Osakeyhtiö Teräs (literal translation: Hardware store Steel Ltd.) that bought the building in 1902. Before, the house was owned by consul Pentz and by Mr Lundberg, Master of Laws.

Rautakauppa Osakeyhtiö Teräs owned the house for nearly 80 years and it was put up for sale only in 1980. Two years earlier, the Oulu City Board had decided to protect the building. Rakennusliike Insinöörityö was the first of the new owners. Even before the name of the new owner was released, the Department of Architecture of the University of Oulu had expressed their willingness to rent the building. Their wish came true. The ground floor then served as a library and exhibition room, while the second floor housed a lecture hall, seminar room and laboratories.

Another era in the history of this house started with new ownership in 1999. Head Invest Oy overtook major renovation and restoration work. Uusi Seurahuone catered for its first guests in 2001.