The real estate consists of a land plot 698 sq.m. large, and a building measuring gross area of 986.5 sq.m. The real estate is situated on the territory of the national town-planning monument Historical Centre of Ventspils, and the national archaeological monument Ancient Ventspils Town.

The starting price of the real estate is 507,000 euro, bidding advance – 7,000 euro. The auction price of the real estate is not subject to value added tax.

“The real estate to be auctioned is an attractive investment property as it is found in the part of the Ancient Ventspils Town which is favoured by tourists and local people, close to economically most active span of Kuldigas Street. In the property, the largest current tenant is Ventspils Branch of JSC Citadele banka, and the premises of the building are leased by two other companies as well. Demand in good commercial premises has increased in the vibrant centre of Ventspils over the last few years;there is a steady level of lease charge, while it increases in the areas which the tenants demand the most. The city’s economic development trends indicate that the demand in modern commercial space, retail space especially, with quality decoration will sustain high lease charges in the vibrant centre of Ventspils in the next few years,” explains Head of Latio Liepaja Branch Mr.Andrejs Dzerins.

The auction of the real estate will be held on Thursday, January 30th, at 12:00 a.m., in the premises of JSC Citadele banka, in Ventspils, at 17 Pils Street. It is possible to register for the auction until 11:30 a.m. on January 30th, in the office of Latio in Ventspils, at 11 Kuldigas Street. The bidders shall pay a security deposit of 2% of the starting price of the real estate – 10,140 euro.

The auction rules are available in the offices of Latio in Ventspils, at 11 Kuldigas Street, and in Riga, at 8 Krisjana Valdemara Street;information by telephone No.29238014, No.29234292.