Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 22:17

VNI to sell Corner House at auction

BC, Riga, 06.08.2020.Print version
Valsts Nekustamie Ipasumi (State Real Estate, VNI) will put up Corner House, also known as Teteris House, for auction, on condition that the buyer keeps the Occupation Museum's section in the building, VNI Rent and Sales Director Anita Feldmane told LETA.

The building will be auctioned on the Electronic Auction Website from August 13 to September 14.


According to an assessment carried out by VCG Ekspertu Grupa, the asking price will be set at EUR 4.247 mln.


An open house for all the interested parties will be held at the building on August 19.

"Teteris House is a property of national importance, and VNI wants to put it in order," said Feldmane. Since the property is not necessary for the provision of public services and private developers are not interested in leasing the property in the long term, VNI identified potential public sector entities, private lessors and investors who could be interested in the building, and eventually decided to sell it, provided that the Occupation Museum's section in the Corner House continue operations, she said. The money raised at the auction will be used for the development of other properties managed by VNI.


The building, designed by architect Aleksandrs Vanags and built in 1912, is an architectural monument, which means that renovation of the building will have to be done in accordance with the State Cultural Monument Protection Inspection's instructions. VNI renovated the building's facade in 2015.


The Occupation Museum's Corner House Museum occupies 700 square meters in the basement and on the first floor of the building.






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