For sale a promising investment property in the centre of Riga with extensive development opportunities.
The property consists of a land plot of 1718 m² (cadastral no.: 0100 032 0108), on which there are five stone/brick residential buildings (cadastral designations: 0100 032 0108 001, 002, 006, 009 and 010), with a total built-up area of 1114.2 m².
The technical plans for the conversion of the building have been drawn up and approved, providing for the construction of 57 apartments with a total floor area of 2763 m²:
14 one-bedroom apartments;
24 two-bedroom apartments;
three- and four-bedroom apartments;
commercial premises with a total floor area of 321 m².
Reconstruction works have already started in some of the properties:
a mansard floor has been built;
PVC windows have been installed;
risers and electrical wiring replaced;
demolition works have been carried out.
The surrounding area is rapidly developing and being improved — several residential projects have already been completed nearby, and a number of new development projects are currently in the design stage. The property is advantageously located in an area with well-developed infrastructure: approximately a 15-minute walk to the Central Station and a 20-minute walk to the Old Town.
Additional information:
in need of major renovation;
the buildings have both isolated and walk-through rooms;
the property consists of 2 front buildings and 3 courtyard buildings;
nearby shops, cafés, schools, kindergartens and public transport;
the location is characterised by high pedestrian traffic.
The property is suitable for:
the development of a residential project;
commercial development such as a boutique hotel, offices or an apartment project;
for long-term investment in a promising Riga city centre location.
Contact us to arrange a viewing and for further information.
