For sale well performing office centre in Riga

Zemitana street 2B, City Centre / Grizinkalns , Riga

Office centre Zemitana Biroji with upside potential for sale.

Description

On the exclusive basis Colliers International is pleased to present an opportunity to acquire almost fully leased out, well performing office building near the active city centre of Riga in the area with well developed infrastructure.
The building was renovated in 2010 and additional improvements and repair works were done in 2015. The property has been well maintained and is in good technical condition.
Currently office building is 96% occupied and has a well-diversified tenant mix. A new owner will have an excellent opportunity to increase rent income in the future by gradually increasing current office rent rates for at least 20-30% up to the market level.

Further Information & Viewing

For additional information contact:
Tarass Leocko
Junior Consultant
tarass.leocko@colliers.com
+371 2827 4071

Location

The property is located on the border of a central district of Riga, on the crossroads of Zemitana Street and Darzauglu Street. This area can be characterized by a well developed transport and social infrastructure. Shopping centre Domina Shopping is located within 10 minutes walking distance. More than 20 public transport routes, including train stop, are located within 500m. The building has good visibility from Zemitana Street.

Price

Owner is expecting price offers in written form.

Key Features

  • Property: land plot and office building;
  • Total Land Plot Area: 1 952 m2;
  • Last Renovation Year: 2010;
  • Number of Floors: 4 + basement;
  • Gross Building Area: 6 026 m2;
  • Net Leasable Area: 4 571 m2;
  • Number of Tenants: 57;
  • Occupancy: 96%;
  • NOI 2016 (forecast for fully occupied property): ca EUR 194 000.

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Office

For Sale - ID : 118545