The property consists of three building units is offering for sale.

About object

Description of terrain

Development property: residential building with retail premises on the 1st floor in the centre of Riga. The Property is located in the very beginning of Terbatas street which is the most active and the moust prestigious part of the centre of Riga. There is a big potential that Terbatas street may be converted into the main highstreet for retail shopping.

The property is surrounded by mixed - commercial and residential properties with retail and catering function on the first floors. Some of most important projects in vicinity are Prime Minister`s office, The Supreme Court, newly built shopping centre Galleria Riga and several hotels.Two parks are near by.

The building is supplied with all city communications. A/C system is available in retail premises. This building is a municipality meaning architectural monument.

Land area: 1045 sqm. Territory parking: 4 lots (courtyard). Entrances: from facade and courtyard.

The property consists of three building units (3 to 6 floors + basement) on the land plot which is located in the very CBD of Riga city. Current usage of the Property – retail premises on the 1st floor (premises are in good condition and leased out on a short term bases) and apartments (mostly in poor condition, partly rented out). Four tenants of the residential part have soviet-time rent agreements. 

Building 001 (facade):
3-storey building in poor condition
(1st floor = retail)
Building area: 722 sqm
Usable area: 503 sqm
Year of construction: 1900

Building 002 (courtyard):
5-storey building in poor condition
Building area: 935,5 sqm
Usable area: 710 sqm
Year of construction: 1900

Building 003 (facade):
6 floor building in poor condition (1st floor = retail)
Building area: 2113,7 sqm
Usable area: 1852,3
Year of construction: 1905

Status of the Property - development property. Potential of the property: to build additional floors on Bldg No.001.

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