For sale a promising investment property in the centre of Riga with extensive development opportunities.
The property consists of a 500 m² plot (cadastral no.: 0100 032 0108), on which there are two stone/brick residential buildings (cadastral no.: 0100 032 0108 001, 0100 032 0108 002), with a total building area of 382 m².
A building permit has been issued for the property and is currently valid.
The site has technical conversion plans drawn up and approved, which provide for the construction of 16 apartments with a total floor area of 717 m²:
2 one-room apartments;
12 two-room apartments;
2 three-room apartments;
commercial premises with a total area of 210 m².
Some of the properties have already started renovation works:
a mansard floor has been built;
PVC windows installed;
risers and electrical wiring replaced;
demolition works have been carried out.
The surrounding area is rapidly developing and being redeveloped, with a number of residential projects already completed in the vicinity and a number of new developments currently in the design phase. The property enjoys a convenient location with well-developed infrastructure: approximately 15 minutes' walk to Central Station and 20 minutes' 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 facade buildings;
nearby shops, cafés, schools, kindergartens and public transport;
the location is characterised by high pedestrian traffic.
The property is suitable for:
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 location in the centre of Riga.
Contact us to arrange a viewing and for further information.
