EXCLUSIVE COMPLEX OF OFFICE BUILDINGS IN VILNIUS OLD...

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Inreal © 2018 | 1 EXCLUSIVE COMPLEX OF OFFICE BUILDINGS IN VILNIUS OLD TOWN AGUONŲ STR. 24, 26, VILNIUS INVESTMENT PROPOSAL

Transcript of EXCLUSIVE COMPLEX OF OFFICE BUILDINGS IN VILNIUS OLD...

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EXCLUSIVE COMPLEX OF OFFICE BUILDINGS IN VILNIUS OLD TOWN AGUONŲ STR. 24, 26, VILNIUS

INVESTMENT PROPOSAL

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KEY

FEATURES

Ideal strategic location in Vilnius Old Town – just 700 meters

to the City Hall Square/ Vokiečių str. and 500 meters to the

central Vilnius bus and train stations;

6,517 sq. m of GBA;

Two land plots of total area of 0.3915 ha;

Almost fully leased office space;

Development opportunities – based on Vilnius Old Town

Protection Regulations, there is an opportunity to build up to

7,000 sq. m of new buildings

INVESTMENT PROPOSAL This Property Investment Proposal has been prepared by “Inreal”, JSC (further – Inreal) on the basis of information provided by our

client – NT Valdos, JSC. The sole purpose of the Proposal is to present the Property and the basic sales and Property information to

the Parties, which could be interested in acquiring it (further - Interested Party). The Proposal is prepared for a limited number of

Interested Parties. It contains certain information about the Property and circumstances, that could assist an Interested Party in

deciding, whether to participate in Property acquiring procedure.

The Proposal was prepared on the basis of the copies of certain documents, the information known by Inreal as well as the records

in the publicly available Register; including documents, confirmations, consents and the like. We have not verified whether all

information delivered is true and comprehensive, except to the extent that we have specified in the Proposal. Inreal is not liable for

changes in information or replacement or elimination of documents if Inreal was not informed of such.

Inreal shall not be obligated to update, adjust or correct any information contained in the Proposal. Inreal shall not be liable for any

manner, in which an Interested Party may use or construe information contained in the Proposal.

The Proposal is not and shall not be deemed as a recommendation to an Interested Party, to participate in the acquiring procedure.

Each Interested Party who has received this Proposal should carry out independent assessment of the Property acquiring

circumstances.

The Proposal is solely for your information, to assist you in making decision, whether to proceed with the Property acquisition.

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The property will be sold by public tender

TENDER OBJECT CODE NV/2018/04/04-02

EXECUTION DATE OF TENDER 7 June 2018, 12:00 pm

EXECUTION ADDRESS OF TENDER “Inreal”, JSC office, T. Narbuto str. 5, Vilnius

DEADLINE FOR SUBMISSION OF TENDER DOCUMENTS

From 4 June 2018, 9:00 am

till 7 June 2018, 11:00 am

ADDRESS FOR SUBMISSION OF TENDER DOCUMENTS

“Inreal”, JSC office, T. Narbuto str. 5, Vilnius

Weekdays from 9:00 am to 17:00 pm

STARTING PRICE 5,720,000 EUR + VAT

INITIAL CONTRIBUTION 50,000 EUR

Additional information about object for sale will be provided after signing confidentiality undertaking.

Object visiting is individually arranged with the tender organiser.

Tender rules, their annexes, tender documents and other information is published on the tender organiser's website: http://ntvaldos.inreal.lt/

SALES PROCESS

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The object for sale is in the unique part of Vilnius – Old Town. Since 1994 Vilnius Old City is listed in UNESCO heritage list as one of the most beautiful cities in the Old Continent This is one of the most attractive locations for both residential and commercial projects.

Object for sale is located along the busy Aguonų street, just 700 meters away from the City Hall Square/ Vokiečių str. and 500 meters away from central Vilnius Bus and Railway stations. It takes only a few minutes to reach these objects by foot.

Property location

PROPERTY LOCATION

Object for

sale

City Hall square

Central train

station

Old town

Central bus

station

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ADDRESS Aguonų str. 24, 26, Vilnius, Lithuania

BUILDINGS

GBA – 6,516.84 sq. m:

1. Office building – 4,054.47 sq. m 2. Office building – 2,462.37 sq. m

GLA 6,178 sq. m

OCCUPANCY 94.46 %

PARKING 67 parking spaces

PROPERTY FOR SALE

2 1

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MAIN LAND PLOT PURPOSE

Aguonų str. 24 – other (public purpose, commercial purpose)

Aguonų str. 26 – other

LAND PLOT AREA

0.3915 ha from 0.5312 ha

Aguonų str. 24 – 0.0811 ha from 0.2208 ha

Aguonų str. 26 – 0.3104 ha

MANAGEMENT LAW

State land lease law:

Aguonų str. 24 – until 2087 05 24

Aguonų str. 26 – until 2095 10 10

LAND PLOTS

AGUONŲ str. 26

0.3104 ha

AGUONŲ str. 24

0.0811 ha

The branch of the University

of Bialystok

0.1397 ha

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The development of territories in Vilnius Old Town are regulated by the Vilnius Old Town Protection Regulations, approved

by the Minister of Culture Order No. ĮV-490. According to the Old City Protection Regulations, the object for sale falls in

the Vingriai suburban area, 88A quarter.

ALLOWED DEVELOPMENT WORKS Repairs, reconstruction without increasing height, demolition works, regulated construction of new buildings

ALLOWED PURPOSES Universal use - no use restrictions

MAXIMUM POSSIBLE CONSTRUCTION DENSITY

Up to 80%

MAXIMUM POSSIBLE HEIGHT 4 floors + attic

PRELIMINARY MAXIMUM POSSIBLE NEWLY CONSTRUCTED OVERGROUND

AREA ~ 7,000 sq. m*

* This construction indicator is only preliminary, as the territory for sale falls in the territory of Lithuanian real estate cultural heritage (in their protection zone), therefore any actions performed with the land plot and buildings should be strictly coordinated with the Department of Cultural Heritage

OLD TOWN PROTECTION REGULATIONS

OBJECT FOR SALE

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PROPERTY PHOTOS

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PROPERTY PHOTOS

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Usually, Vilnius is the most active in the business centre sector and the year of 2017 was no exception – 10 new business centres

were opened in the capital over the year, which added around 79,000 sq. m to the market. Despite the fact that the pace of

development is very high, the demand for modern business centres remained strong in the capital and absorbed almost the entire

newly available area.

Expansion of modern business centres in Vilnius

Source: Inreal

During 2017, the overall vacancy rate in Vilnius increased from 4.8 percent to 5.4 percent. The overall vacancy growth was mostly

influenced by growth in B1 and B2 segments of available areas, where vacant space comprised 6.7 percent and 9.7 percent

accordingly at the end of the year. Meanwhile, the available A class office areas comprised only 1.3 percent. Over the next two years,

around 115,600 sq. m of leasable space will be added to Vilnius market. It is very likely that at least part of the new business centres

will not be leased on the opening day, therefore the vacancy level may increase up to 7-9 percent or even more at the end of 2018

or at the beginning of 2019.

Lease prices in Vilnius remained stable in 2017. The rapidly growing supply of leasable space increased competition between lessors

and softened the potential rise in prices. Currently, the average lease prices of class A offices reach 14-17 EUR/sq. m, B1 – 10-14

EUR/sq. m, B2 – 6.5-10 EUR/sq. m.

Dynamics of vacancies in Vilnius business centres under classes

Source: Inreal

0

100 000

200 000

300 000

400 000

500 000

600 000

700 000

800 000

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017F 2018F 2019F

At the beginning of the year (sq. m) Increase per year (sq. m)

0%

2%

4%

6%

8%

10%

12%

A B1 B2

2016 Q4 2017 Q4

VILNIUS OFFICE MARKET REVIEW

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Dynamics of lease prices and vacancies in Vilnius business centres

Source: Inreal

Business centres being developed or planned to be developed in 2017-2018

Business center City Class GLA, sq. m Open date

Link Vilnius A 9,900 2018

Asgaard keys Vilnius A 4,100 2018

Park Town II Vilnius A 14,000 2018

Burė 3 Vilnius A 13,000 2018

Business Stadium Vilnius A 15,000 2018

S7 II etapas Vilnius A 15,000 2018

Duetto II Vilnius B1 8,300 2018

Live Square Vilnius A 6,800 2019

Quadrum South Vilnius A 10,500 2019

S7 III etapas Vilnius A 15,000 2019

Hall 3 Vilnius A 3,000 2019

U219 Vilnius B1 16,000 2019

115,600

0 EUR

2 EUR

4 EUR

6 EUR

8 EUR

10 EUR

12 EUR

14 EUR

16 EUR

18 EUR

0%

1%

2%

3%

4%

5%

6%

2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4

ren

t p

rice

vaca

ncy

rat

e

Vacancy rate in business centres of Vilnius Average lease price of A class offices

Average lease price of B1 class offices Average lease price of B2 class offices

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JULIUS BELANOŠKA

HEAD OF BROKERAGE DEPARTMENT

Mob. +370 696 50605

[email protected]

___________________

JSC “INREAL“

T. NARBUTO STR. 5

08105 VILNIUS, LITHUANIA

FAKS. +370 5 273 3065

WWW.INREAL.LT

INREAL GROUP

CONTACTS

JSC “INREAL”

T. NARBUTO STR. 5

08105 VILNIUS, LITHUANIA

TEL. +370 5 273 0000

E-MAIL [email protected]

WWW.INREAL.LT

JSC “INREAL GEO”

T. NARBUTO STR. 5

08105 VILNIUS, LITHUANIA

TEL. +370 615 25404 E-MAIL [email protected] WWW.INREAL.LT

JSC “INREAL VALDYMAS”

T. NARBUTO STR. 5

08105 VILNIUS, LITHUANIA

TEL. +370 5 273 0944

E-MAIL [email protected]

WWW.INREAL.LT