A historic administrative property in Old Riga with outstanding development potential
A unique office property is for sale in one of the most prestigious and historically significant locations in Old Riga – Smilšu Street.
The property combines historic architecture, a prestigious location and extensive development opportunities, making it an excellent choice for investors seeking long-term value right in the heart of Riga.
The building has a total area of 3,169.4 m², comprising five above-ground storeys and a basement, whilst the usable area amounts to 2,760 m².
Advantages of the property
• a prestigious location in Old Riga;
• historic brick architecture;
• a total area of over 3,100 m²;
• five above-ground storeys and a basement;
• flexible layout options;
• suitable for accommodating one or more tenants;
• extensive development and renovation potential;
• premises with good natural lighting;
• convenient access by both private and public transport;
• one of the most sought-after business locations in Riga.
The well-thought-out layout of the building, with five separate entrances and several stairwells, ensures a high degree of operational flexibility. Each part of the building can be provided with independent access, whilst maintaining connectivity between all spaces – a key advantage for both investors and companies with multiple departments.
The building’s layout allows the spaces to be adapted to various functions and business concepts.
The property is suitable for:
an office centre;
a company’s headquarters;
a premium co-working centre;
a consultancy or financial services centre;
a medical or healthcare centre;
an educational institution;
a hospitality or corporate event venue.
Thanks to the building’s size and location, it is possible to carry out either a complete refurbishment or to develop the property gradually, adapting it to market demand.
Location
Smilšu Street is one of the most historically significant streets in Old Riga, home to a concentration of offices, embassies, financial institutions, restaurants, hotels and cultural venues.
Within a few minutes’ walk are:
Doma Square;
the Latvian National Opera;
the Freedom Monument;
public transport;
car parks;
a wide range of restaurants and services.
This is a place where a historic setting meets modern business.
Investment opportunity
This is a rare opportunity on the Old Town market – a historic office building with a substantial floor area, a prestigious address and extensive development potential.
The property is ideal for an investor seeking to acquire a sustainable asset in one of the most sought-after locations in central Riga.
