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Inreal © 2019 | 1
EXCLUSIVE COMPLEX OF OFFICE BUILDINGS IN VILNIUS OLD TOWN AGUONŲ STR. 24, 26, VILNIUS
INVESTMENT PROPOSAL
Inreal © 2019 | 2
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;
• 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.
Inreal © 2019 | 3
The property will be sold by public Auction
AUCTION OBJECT CODE NV/2018/04-01
EXECUTION DATE OF AUCTION 28 February 2019, 15:00 pm
EXECUTION ADDRESS OF AUCTION “Inreal”, JSC office, T. Narbuto str. 5, Vilnius
DEADLINE FOR SUBMISSION OF AUCTION DOCUMENTS
25 February 2019, 15:00 pm
ADDRESS FOR SUBMISSION OF AUCTION DOCUMENTS
“Inreal”, JSC office, T. Narbuto str. 5, Vilnius
Weekdays from 9:00 am to 17:00 pm, but no
later than the deadline of the registration of
documents.
STARTING AUCTION PRICE 4,790,600 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 Auction organiser.
• Auction rules, their annexes, Auction documents and other information is published on the Auction organiser's website: http://ntvaldos.inreal.lt/
SALES PROCESS
Inreal © 2019 | 4
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 97.33 %
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
Inreal © 2019 | 7
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
Inreal © 2019 | 9
PROPERTY PHOTOS
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Due to a favourable business and economic environment, currently the segment of offices is very active and liquid, the demand for
modern offices is particularly high, and the range of lessees is diverse: from local expanding companies to establishing new foreign
companies. During the first half-year of 2018, only one business centre was opened in Vilnius; it has added about 8,500 sqm of gross
leasable area. By the end of the year, there will be 5 new office projects launched in the capital city; they will add about 56,000 sqm
of gross leasable area to the market. In 2019, it is expected to open at least another 6 business centres with 75,000 sqm of gross
leasable area.
Expansion of modern business centres in Vilnius, sq. m
Source: Inreal
Regardless of high development paces, the demand for modern business centres in the capital city is particularly high, and almost
the entire new area is taken up. During the first half-year of 2018 the total vacancy rate in Vilnius has decreased from 5.4 to 3.7
percent and is the lowest in Europe. The decrease in overall vacancy rate was mostly resulted by the decrease in vacancies in B1
and B2 segments, where vacant area covered 4 and 5.6 percent, respectively, at the end of the first half-year of 2018. Meanwhile,
the vacancy rate in Class A segment was only 1.4 percent.
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 2017 2018P 2019P
At the beginning of the year (sq. m) Increase per year (sq. m)
0%
1%
2%
3%
4%
5%
6%
7%
A B1 B2
2017 Q2 2018 Q2
VILNIUS OFFICE MARKET REVIEW
Inreal © 2019 | 11
In the first half-year of 2018, the lease prices in Vilnius, particularly those of higher class, have an insignificant trend of increase,
regardless of rapidly growing supply of leasable area. Currently the average lease prices of Class A offices in Vilnius are 14-17
EUR/sqm, B1 – 10-14 EUR/sqm, and B2 – 7-10 EUR/sqm.
Dynamics of lease prices and vacancies in Vilnius business centres
Source: Inreal
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%
7%
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
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
Inreal © 2019 | 12
JULIUS BELANOŠKA
HEAD OF BROKERAGE DEPARTMENT
Mob. +370 696 50605
___________________
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
