Published: 2020-04-03 09:34:25 CEST
Pillar Capital, AS
Inside information

New Hanza Capital, AS, Is Going To Develop Logistics Park Worth EUR 18.3 Million

Riga, Latvia, 2020-04-03 09:34 CEST -- Continuing to achieve its operational goals, the Board and the Council of New Hanza Capital, AS has made a decision about implementing a new investment project: the development of A-class warehouse and logistics park worth EUR 18.3 million in Riga at 462 Maskavas Street.  

At the end of March there was a construction agreement concluded with Pillar Contractor, SIA, and the works are going to start in the upcoming month. On the land plot at 462 Maskavas Street there are now several warehouse buildings located, most of them were built about ten years ago. In order to use the potential of the property and free land plots to the fullest, there is going to be a single logistics and warehouse park created by building almost 32 000 m2 of new modern warehouses. Upon completion of the construction works, the total space of the buildings will exceed 50 000 m2. The tenants will be offered premises starting from 800 m2.  

It is estimated to complete the construction works by 31 July 2021. It is planned that the new buildings will qualify for BREEAM certificates that will certify their high quality, energy efficiency and compliance to global standards, as well as that will be the first warehouse complex in Latvia with BREEAM certificate.  

New Hanza Capital, AS is a company founded in 2006. The objectives of its operation include investing own and third party funds in commercial real estate objects to achieve sustainable increase in income from renting the premises and enlarging of the value of properties.  

         Artūrs Eglītis
         Head of Communications
         New Hanza Capital, AS