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Entertainment center Vernisāža consists of a 4,689 sq. m. plot of land with a complex of buildings. Premises in it are currently leased by several restaurants and a club.
Latio Commercial Property Sales Department Manager Jānis Šīns underlines that the new owners of the complex will retain its current function – after renovation and modernization of the premises, various types of tenants will be engaged to offer visitors of the center opportunities to enjoy the highest class of entertainment and cultural events.
“We are currently seeing growing interest of investors from various countries in purchasing high-quality cash flow properties in downtown Riga. This trend is stimulated by the declining amount of vacant premises and the increase of rent prices, providing better profitability to investors than in previous years. Investment opportunities are actively being sought out by investors from Russia and other CIS countries, who, unlike their counterparts in many European countries, have funds available, including bank financing on comparatively favorable terms. Entrepreneurs from Estonia are also increasingly showing interest in purchasing commercial properties in Latvia, as the adoption of the euro has created favorable conditions for investments in other countries,” Šīns explains.
