Estonia, EU – Baltic States, Post Office, Real Estate, Transport

Swedish Promethean, the new owner of the building that is located right in the heart of Tallinn, will now probably start holding negotiations with the City of Tallinn to achieve a change in the city development plans in order to tear the building down.

“Nothing will change about the Post Office in the next five years,” said Promethean’s owner firm Altenreval AS spokesperson Urve Lihtmaa yesterday after the sale-purchase contract was signed. “Then everything depends on development of projects with the city.”

The current development plan allows increasing the height of the bridling by 9 metres but not tear it down. But in order to get permission to demolish it, the developers just have to submit a new project to the city and most likely the it will approve it.

Lihtmaa was unable to say what the new owner would do with the building during the planning and project design stages. Estonian postal company Eesti Post will remain its leaseholder at least for a while but will eventually leave.

The management of Eesti Post decided already in 2008 that the colossal bridling that was designed by Raine Karp and built for the 1980 Moscow Olympic games is not necessary for the company and declared its sale for 200 mln kroons. The first bidding was a failure and then the price was lowered.