“Lietuvos Energija” auction – office complex in the growing Vilnius business hub

On 22 August, NT Valdos, a company belonging to Lietuvos Energija, one of the largest groups of energy companies in the Baltic States, will auction 11 properties for $ 10.4 million EUR including VAT. The most valuable of them – office complex in P. Lukšio str., Vilnius, offered for a starting price of 4.5 million EUR including VAT. The auction is organized by the international real estate consulting company Newsec.
“The most valuable object offered at auction is an office complex building with a total area of ​​over 6,600 square m. Long-term tenants located there generate a steady stream of rental income and return on investment, so the facility does not require an initial investment to develop an already existing commercial activity. Real estate developers should be interested in the fact that permission to build another administrative building has been issued in the territory of the object for sale. The new 9-story building could complement the existing complex of buildings with modern 11,000 square m of office space, ”says Jurgita Šaigytė, Head of the Newsec Mediation Team.
According to her, the object is also of interest to investors due to its location in the rapidly changing Žirmūnai district of the capital. According to the expert, this place becomes a new “hub” of Vilnius business centers.
There is no shortage of office buildings in the neighborhood of the proposed facility – there are currently about 15 business centers just a kilometer away. These include Technopolis’ largest office complex in Vilnius, which is still growing, and the refurbished multi-functional Ogmia Town, which houses Ulonu, North Star, Domus and other office buildings. The Bank of Lithuania is also planning to build a new business center in the area. According to J. Šaigytė, the commercial activity developed around the object for sale dictates the success and the development possibilities of the business building for sale in the area.
The office complex for sale is located just 5 kilometers from the Old Town of Vilnius and conveniently accessible by private and public transport from all districts of Vilnius. Next to it is the strategic transport artery of the city – the intersection of Kalvarijų-Ozo-Kareivių streets. Accessibility will be further enhanced by 2020 when infrastructure changes are planned to help distribute traffic flows – a two-level intersection will be created, and North Street will be the connecting point for the Western Bypass and nearby areas.
Auction participants should also get the attention of the resort is surrounded by lakes next to Labanoras Regional Park in Molėtai district. 83.9 thousand including VAT is the starting price for a holiday resort surrounded by lakes near Labanoras Regional Park in Molėtai district. The resort can be reached from the capital by car in an hour. The attractive location of the object in the nature, close to water bodies, is suitable both for the development of recreational tourism and for individual housing projects in a quiet location.
The building complex on Motorų St., Vilnius will also be auctioned. Its starting price will be $ 4.2 million. EUR including VAT. The market will also be offered for sale real estate objects in Marijampolė, Druskininkai, Šilutė, Trakai, Alytus and other cities and districts of Lithuania.
Based on the results of previous auctions, the price of most of the offered properties is reduced to 10%. Registration for the 18th auction of the energy group begins on July 5th. and will continue until August 19. This will be the eighteenth RE auction of the energy group.
Lietuvos Energija real estate is sold through public sale procedures, which allow the highest bidders to purchase real estate objects.
As of 2016 Lietuvos Energija has sold real estate at public auctions and tenders for 94 million EUR including VAT.

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