Verified listing
Residential/office Development site in Tallinn

Residential/office Development site in Tallinn

Tallinn, Estonia

A81%

Land

€30.000.000

4 Aug 2020

#5904

Property Details

Freehold

For sale

Authorized representative

X

Fees

1.00 %

0.00 %

0.80 %

0.00 %

0.20 %

Investment Overview

The seller is in planning process of a comprehensive urban environment in Tallinn, in the border of Pelgulinn and Kalamaja districts. The architectural concept provides: Plot area: 83 950 m2 Building area on ground: 123 000 m2 Building area under ground: 40 000 m2. Potential gross building right between 140.000 m2 – 175.000 m2, dependant on the maximum heights to be approved by the city planning department of Tallinn. Current planning process has been ongoing for more than 18 months and is close in achieving a state where the actual planning application can be submitted to the city municipality for acceptance. Current premises (old industrial units) give an sufficient cash flow to manage the planning process. The property is one of the most significant development locations in the Baltics in the last decade. Buyer is flexible to connect the payment of the majority of the sales price with the final approval of the planning! The payment terms and below market building rights price it very attractive investment opportunity.

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