In 2007 New Europe Real Estate committed to develop and lease office premises for the State Revenue Service of Latvia (SRS). These built-to-suit offices will be located on the territory of project Ezerparks.
The property is held and developed by a joint venture company Biroju Centrs Ezerparks Ltd., established between Jsc “Valsts nekustamie īpašumi” (VNI, state JSC State Real Estate) and SPV established by New Europe Real Estate (Mežaparks SPV Ltd.).
Concluded pre-lease agreement foresees lease of 40 000 sq.m. office premises to SRS for 30 years. The agreement is triple net.
Development property is major Private Public Partnership project being currently realized in Latvia. Its realization will ensure consolidation of State Revenue Service administrative bodies, which are currently dispersed across 15 different locations in Riga.
With up to 100 000 sq.m. available for potential office building construction on this land plot and discussions currently in progress with other governmental institutions, in the future the project Ezerparks will become the site for establishment of a whole government office complex.
Located on intersection of major new city highways, this property will provide outstanding transport accessibility, possessing unmatched potential to become a new centre of commercial activity in Riga.
Status
- 03.05.2007 – Mežaparks SPV (100% owned by New Europe Real Estate) won public tender on development and lease of State Revenue Service building on territory of project Ezerparks.
- 11.03.2008 – Cabinet of Ministers of Latvia sanctions start of project predevelopment. 27.05.2008 –establishment of joint venture between Mežaparks SPV and Jsc “VNI”
- 11.2010 – verification of project sketch design, developed by major Latvian architect bureau „Sarma & Norde arhitekti”, in state administrative bodies.
- 08.2011 – completion of project technical design
- 09.2011 – 01.2014–Construction.
| Land plot area | 32 840 m2 |
|---|---|
| Offices | 50 000 m2 |
| SRS offices | 40 000 m2 |
| Commercial premises | 3 000 m2 |
| Overground storeys | 8 |
| Overground parking places | 637 |
