Project Development near by Riga Center Latvian Capital
The property is located in a fist block from river Daugava and only in 5 min walking distance from Old Riga, and also just one block away from newly renovated area «Spīķeri» and directly to newly made walking promenade along the
river Daugava. The property is mixed residential and service/business 6 floor perimetrical type construction area.
At this moment property is consisting of land plot with total area of 1329 m² , four floor twelve apartment building with total area of 779.4 m², which stands on 215 m² land.
The implementation of the project is possible in two versions:
- if the existing building is demolished, the new building`s possible area is up to 4720 m² ,from which 3630 m² is residential area and 640 m² is commercial premises on the first floor.
- if the existing building is not demolished, the new building`s possible area is up to 4000 m², from which 3100 m² is residential area and 360 m² is commercial premises on the first floor.
The internal rate of return from capital (IRR) is 53%, Project payback period – 1 year, 3 months and 4 days. The total planned duration of the project – 4 years.
To find out more information about this investment project, the real estate an
d the potential opportunities for cooperation, please contact us with your questions. Selling price of the project: from 1 000 000 EUR to 1 200 000 EUR