The first “StokOfiss” in Latvia was put into operation

The first stage of construction of the new business complex “StokOfiss” has been fully completed with the commissioning of the “StokOfiss U30” project. New building, which is located in Riga, Dreilini, 30 Ulbrokas Street, has been fully leased out and handed over to the tenants. Additionally, Hepsor is planning to start construction of the second building, located in the neighboring property, in 2023. Total investment is expected to be over 20 million euros to complete the modern and unique StokOfiss business complex for Latvia.

The commercial area of “StokOfiss U30” is 3640 square meters has in total, four tenants: “Douglas Latvia”, “Strongpoint”, “MV Music” (muzikasveikals.lv) and “Noto Latvia”. There are trading places, warehouses and auxiliary premises on the ground floor of the complex. In turn, there are premises for offices on the second floor. There is also a convenient spacious free parking lot with 84 parking for customers and employees.

“The premises of the complex were designed primarily for the needs of such enterprises, for which it is important that a trading place or office is located next to a warehouse. Today this is a great advantage, because it is difficult to find a commercial space in Riga for companies that want to be located in modern and energy-efficient premises, next to which there would be a warehouse and convenient accessible parking for both customers and logistics vehicles. The fact that there is a demand for this type of commercial space is confirmed by the fact that the premises of “StokOfiss U30” found their tenants long before they were put into operation,” says Martti Krass, Member of Board at “Hepsor” SIA.

Martti Krass also points out that this project, which has started so well, is planned to be continued by the second stage of construction – “StokOfiss U34”: “This complex also will be located next to current building, in 34 Ulbrokas Street. We continue with similar planning as in StokOfiss U30, but add more office space to the complex. And although the business complex of the second stage is still at the design stage, it can be completed already in 2024. The location of the premises in this project may be similar, as it became clear that at least in the Latvian market there is a demand for commercial space of such a concept, which “Hepsor” has now begun to develop.”

The contractor of StokOfiss U30 was “Mitt&Perlebach” and representatives of “Colliers International” land and industrial space team coordinated the lease of the premises and terms of the lease. “Hepsor” Member of Board Martti Krass appreciates the cooperation with the partners: “Construction went as expected, so we are grateful to our partner “Mitt&Perlebach” for his contribution to this project. And we highly appreciate the successful cooperation with the Latvian branch of “BigBank”, and looking forward to support in the implementation of future projects.”

 “Hepsor” has been operating in Estonia and Latvia for more than 10 years and during this time 26 real estate projects with a total selling area of 177,000 square meters have already been implemented. “StokOfiss” business complex is the fifth project completed by Hepsor and the first one in the commercial space segment.

“Hepsor” is one of the first real estate developers in the Baltic States to introduce several innovative engineering and technical solutions to make the constructed buildings energy efficient and therefore more environmentally friendly. The company has extensive experience in this area, and therefore both new “StokOfiss” projects are being created with a strong focus on green thinking.

For detailed information – Madara Ceske,

Head of Sales and Marketing at «Hepsor» SIA

Telephone: +371 25664774, e-mail: madara@hepsor.lv