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The current acquisition price of the property is 230 million euros, including the adjacent wooden houses. To date, the total amount invested in the development of the property has reached 280 million euros, while its restoration value is approximately 330 million euros. This property represents a strong investment opportunity in both residential and commercial real estate.
The projected revenue from cash flows for the first five years will reach 41 million euros. Additionally, at this stage, there is a forecasted opportunity to sell the property for 256 million euros, providing a 29% return on investment. The development presents an attractive prospect for those interested in high-value real estate acquisitions.
The cash flow revenue for the first ten years would amount to 96 million euros. In the tenth year, the property is expected to have a value of 283 million euros, which, in case of a sale, would result in a 64% return on the initial investment. With its blend of office and residential spaces, this project offers versatility and long-term financial benefits.
Currently, the project's office tower is partially leased to several financial and IT companies, as well as high-ranking state institutions. Additionally, there is a memorandum of intent with a five-star hotel for the long-term lease of the entire residential tower, SPA area, and conference facilities, ensuring a stable cash flow and high occupancy. This balance of commercial and residential use adds to the project's appeal.
The property consists of a plot of land with an area of 9192 m2 and the buildings on it, the total area of which is 89,000 m2. The development’s scale and adaptability make it an excellent asset in the real estate market.
Two 30-story high-buildings - towers - one of which is for premium class offices, and the other - for apartments. It is possible to develop the apartment tower as rental apartments, as a hotel, as branded residences, or to combine and rent or sell some of the apartments, while converting the rest into hotel rooms. The project’s flexibility makes it a compelling option for different investment strategies.
The buildings are equipped with the highest quality energy-efficient facade, air humidifier, electric car charging stations, intelligent building control systems, high-speed elevators, automatic fire extinguishing (sprinkler) system, access card system for access to the premises, 24/7 security system, and optical Internet (two operators).
The towers have four levels of parking with 628 parking spaces and a spacious reception room with 20 m high ceilings. The four already renovated low-rise buildings (wooden) in the area can be made into additional service places for the residents and visitors of the towers (food, medical, beauty care, or others). The combination of modern infrastructure and historical elements creates a unique investment environment.
Thanks to the uniquely curved architecture, the elegant glass-fronted buildings are flooded with natural light. In addition, the architectural solutions of the towers have been designed by determining the minimum threshold of daylight intensity, thereby promoting maximum daylight exposure and excellent views in all building spaces. The unique window opening system allows clean Baltic air to enter all levels. The three-dimensional shape of the cylindrical facade was designed by the world-famous architect Helmuts Jahns, while the interior design and the design of the entire adjacent area was designed by one of Latvia's best architects - Andis Silis. An inspiring urban landscape and an oasis of well-being beyond time and space.
Symbolizing confidence, stability, the latest technologies, and quality, Zunda Towers rise towards the zenith in the skyline of 21st-century Riga – in terms of architecture, design, and lifestyle. This landmark project offers an exceptional opportunity for those seeking a real estate investment in a strategic location in Europe.
🌍More information: https://docs.zundatowers.com/
