Raiņa bulvāris 11, Rīga, Centrs

Raina blvd.11, Riga property is offered through an official auction sales procedure under the MAS PNB Banka insolvency process.

• ~2,000m2 trophy asset building, architectural monument
• Historical Centre/CBD, Freedom Monument
• Embassy lane/direct Parkview, visibility and exposition
• Intense footfall, high-street destination
• 7 back-yard and 4 front-yard parking spaces
• Fully renovated in 2016
• Renovation cost of 2.0m EUR or 1,500 EUR/m2
• Fully equipped with exclusive furniture and design solutions by IMAGEHOUSE
• Suitable for bank/branch functions, equipped with vaults in the basement
• Optimally leasable to 1-8 office tenants
• EUR ~3,000/m2 office value
• 12-15 EUR/m2 office rent level
• 30-50 EUR/m2 retail rent level
• 5.0-6.5% achievable cap rate after lease-up
• Auction Guide Price of the asset is 5.5m EUR
• Currently 100% vacant