COMPLEX of ROW-HOUSES in Ķīpsala,
Ģipša Street 6 (Riga, Latvia)
The Structure of Proposal
Development Project / Investment Project which includes land plot with developed and officially approved technical building project for 8 row-houses in Ķīpsala, Ģipša Street 6 which are located in Riga, Latvia.
Latvia's role as bridge or springboard between the West and the East is still being underestimated, even though it can bring considerable benefits to the businesspeople from both regions. This applies to a number of industries, especially to logistics, financial services and trade. The West companies acting from Latvia can enter the Eastern markets more efficiently, and vice versa, the Eastern business entities via Latvia can get access to united market of European Union.
Union Invest recommends for potential investors to consider and evaluate possibilities to realize given project of row-houses as development an exclusive hotel, modern complex of offices or as an exclusive family living houses near the Historical Centre of Riga.
Location
Ģipša Street 6, Riga (Ķīpsala). The property is located near the Historical Centre of Riga at the prestige area of Riga. Also, Ķīpsala is included in the list of UNESCO as an inheritance of world’s culture because of their specific models of wood architecture. The unique location of Ķīpsala allows you to be in the very middle of downtown, and in the same time, it keeps extraordinary aura of provincial town within green environment and low-rise residential buildings. The closeness of largest Latvia’s river Daugava make possible to enjoy relaxation both at and over the water. The land plot has a border with the street existing in the project behind which lies branch of coast line of river Daugava where you can establish dock for motorboats, small sailboats and yachts.
In direct closeness of the property are advanced infrastructure - elitist private houses, villas and low-rise residential buildings, prestige school, restaurant, dock for motorboats and yachts. There are available sports complex with swimming pool, hotel „Islande Hotel”, supermarket „Olympia”, international exhibition hall “Ķīpsala”, modern bank’s building „Saules akmens”. There are already developed row-house project. Besides, close to this area are planned building processes for several significant residential and business buildings, for example, multi-functional buildings “Elipse tower”, “Riverside Plaza” and “DA VINCI”, Riga’s concert hall, business centre “Z TOWERS”.
Location Scheme of the Object
Area
- Land plot: 3465,0 m2
- Part of land plot which is situated in the street red lines and no rights to perform capital constructions (red lines): 750,0 m2
- Useful land plot: 2715,0 m2
- Total net building area for 8 row-houses, incl. terraces: 1935,8 m2
- Total building area for 8 row-houses: 2469,3 m2
Description of Construction Design
Developed in the stage of Technical Project, accepted with „Red” stamp. Architectural and Planning Task has been received. The land plot is free from existing constructions.
Utilization of land plot
The primary usage of land plot is construction of residential buildings.
The main conditions for construction
The maximal intensity for construction of land plot: 60%, number of floors, height: 3 floors
Utilities
In the close vicinity land plot has all utilities: Electricity, Gas, Water, Drainage.
Additional information
Developed project for construction of row-houses includes:
- Living area of row-houses: 1935,8 m2
- An area for underground parking: 533,5 m2
- Total area of row-houses: 2469,3 m2
- Number of sections of row-houses: 8
- Number of spots of underground parking: 13
- Number of floors: underground: 1; overground: 3
Hypotethical calculations for realization of Project 2010 - 2013
| Average sales price of living area of row-houses, EUR/ m2 | 2 000 |
| Average sales price of terraces, EUR/ m2 | 300 |
| Average sales price of underground parking, EUR for 1 spot | 9 000 |
| Total income of sales, EUR | 3 111 030 |
| Average expenses of investments of row-houses, EUR/ m2 | 690 |
| Average expenses of investments of roof terraces, EUR/ m2 | 40 |
| Average expenses of investments of underground parking, EUR/ m2 | 180 |
| Total expenses of investments, EUR | 1 096 960 |
Investment horizon: 3 years
Average Return on Investment per annum: ~ +20%
Price of Investment Project: 830 000,00 EUR *
* Approximate Estimated Price of this Project on November 1, 2008 performed by „COLLIERS INT.” Ltd.:
1 950 000,00 EUR
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Useful information for foreign investors! In April 22, 2010 Latvia’s parlament (Saeima) accepted official amendments of “Migration law” regarding terms of residence permits for foreign citizens. Now, according to this law any foreign citizen who makes purchase of real estate in Riga for no less than 100 000 LVL (about EUR 140 000) will get legal Latvia’s residence permit for 5 years. Thus it gives for foreign investors more opportunities and options for expanding their business activities in the united market of European Union.
Pictures of projected Row-Houses
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Significant Buildings near the Object
Modern bank’s building „Saules akmens”  |
Supermarket „Olympia” |
Hotel „Islande Hotel” |
International exhibition hall “Ķīpsala” |
Please, contact us: viesturs.zellis@unioninvest.eu in order to get more detailed information about this Investment Project, price options, conditions of business deal.
Tel. +371 67 60 2006 /
Fax. +371 67 60 2006 / Mob. +371 29 484 222