Hepsor invests 13 million euros for a new business complex in Riga

Estonian real estate developer Hepsor has started the construction of the first phase of a new business complex in Dreiliņi, “StokOfiss U30”, where small and medium-sized companies will have access to both offices and spacious premises for shops and warehouses. At present, well over half of the premises available for the first phase have been leased. The construction of the new business complex will consist of two phases, and the planned total investment is approximately 13 million euros.

The business complex is being built in Dreiliņi – the busy part of Riga near the intersection of Ulbrokas Street and Augusta Deglava Street. Many small and medium-sized enterprises have shown interest in rental opportunities and currently two thirds of the premises of the first phase have already been leased.

The area of the first floor of the business complex “StokOfiss U30” is approximately 3650 m2. The two floors will have 10 separate premises for rent, each with an area of 293–487 m² – suitable for a warehouse, a store, or an office. With the help of different technical solutions, each of them will be adaptable to the needs of the tenants, including the possibility to combine several rooms into one.

There will be retail premises, warehouses, and backrooms on the first floor whilst the second floor will be covered with office spaces. Tenants and customers will be provided with convenient transport access and a free parking lot for 84 cars. The construction works of the first phase of the business complex are planned to be completed in the summer of 2022.

Martti Krass, Member of the Management Board at Hepsor, emphasizes: “We are grateful and satisfied with the interest shown by our clients and the fact that we have already managed to lease two thirds of the available premises in the business complex. “StokOfiss U30” gives small and medium-sized companies the opportunity to rent necessary premises for trade in one place, thus facilitating daily work, improving business efficiency, and reducing the company’s logistics costs.”

In the second phase, another business complex will be built next to “StokOfiss U30” called the “StokOfiss U34.” Its planned area will be twice as large as of the former with a total of 7,500 m2 and provide more businesses with convenience and functionality as well as access to office spaces, spacious premises for shops and warehouses. These premises will be available for tenants in the summer of 2023.

The “StokOfiss U30” project is being developed by the Estonian real estate development company in Latvia “Hepsor” in cooperation with the group’s construction company “Mitt & Perlebach.” The lease and rental conditions of the premises are coordinated by the representatives of the “Colliers International.”