Indrė Kajokienė, Director of the Commercial Department of the Property Bank, says that spring proved market activity – due to high-value objects, fierce price competitions took place at auctions. She expects buyer activity to continue in the summer.
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“We will offer the market at least several highly attractive investment objects in the center of Vilnius – in Naujamiestis and near the Old Town. In total, this summer we plan to offer 270 real estate objects for sale in various locations across the country. The market value of these objects is about 20 million euros. The funds collected from the auctions will contribute to the implementation of state real estate modernization projects,” emphasizes I. Kajokienė.
Building exceeding 2 thousand sq. m in the center of Vilnius
Great interest is expected this summer in the object located at the intersection of Vilnius Old Town and Naujamiestis on Aguonų Street. The Property Bank auction offers the market an administrative building of more than 2.3 thousand sq. m with nearly 13 ares of land at Aguonų St. 4.
One of the strongest features of this object is its very attractive location in the rapidly changing Naujamiestis. The building is not included in the list of cultural heritage objects, so there are broader possibilities for reconstruction or conversion here. The object has several entrances, an elevator, two staircases, a well-maintained territory, and can surprise with a panoramic view of Vilnius Old Town. The ceiling height in this building reaches up to 3.7 m in places, which will allow many developers to create unique spaces.
The starting auction price is 3,830,000 Eur.
Registration for the auction will begin on July 20. The auction starts on July 27.
Premises in the capital’s Naujamiestis
Another attractive object for investors this summer is administrative premises on A. Vivulskio Street. The premises of more than 418 sq. m at A. Vivulskio St. 16-2A stand out with a functional layout and a strategically convenient location. Located just a few kilometers from Vilnius Old Town, the object has an individual entrance from the street. The office windows face both A. Vivulskio Street and the inner courtyard, where a parking lot is arranged. The object is surrounded by well-developed social and engineering infrastructure, so the premises can be attractive both for administrative activities and for the development of various services.
The starting auction price is 790,000 Eur.
Registration for the auction will begin on July 1. The auction starts on July 9.
No less attention should be paid to the object on Algirdo Street. In July, two premises located in the building at Algirdo St. 31 will be sold at auction. The 786 sq. m premises on the fifth floor of the building are divided into 24 offices. Meanwhile, on the second floor and in the basement, another 217 sq. m premises will be sold at auction.
Both premises are located on one of the busiest streets in Naujamiestis, where the concentration of business, services, and residential projects has rapidly grown in recent years. The tidy premises with offices on the second floor and additional spaces in the basement give investors the opportunity to quickly start activities or adapt the spaces according to individual needs. The attractiveness of the object is also increased by good visibility of the premises for those traveling along Algirdo Street – this is especially important for those looking for a representative location in the city center.
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The starting auction price for the premises on the 5th floor of the building is 1,297,052 Eur
The starting auction price for the premises on the 2nd floor and in the basement is 209,615 Eur.
Registration for both auctions will begin on July 13. The auction starts on July 20.
Premises in the historic part of Vilnius
Near these objects sold at auctions – another premises that may attract the attention of potential buyers. In the Old Town eldership, in the historic and central part of the city, at J. Basanavičiaus St. 6-21, nearly 197 sq. m of administrative premises with a part of the land plot will be sold. The premises are located on the first floor of a residential building, have two separate entrances from the inner courtyard, and are well visible to those traveling along J. Basanavičiaus Street.
The starting auction price and auction date will be announced soon.
School complex in Kėdainiai
Another exceptional object in the Property Bank auctions is the school building located on J. Basanavičiaus Street in Kėdainiai. J. Basanavičiaus St. 4. The school complex of more than 3.5 thousand sq. m is located in a quiet part of the city – near the Kėdainiai dam, central park, amphitheater, and Kėdainiai arena.
The starting auction price and auction date will be announced soon.
All objects offered and planned to be offered to the market are published on the Property Bank website: Sales and rentals – Property Bank.
