Vastint Lithuania, the developer of the business park Business Garden Vilnius, has completed the first stage of the project. First tenants are starting to move into the first two office buildings of the complex built on Laisves Avenue. As of today, more than one third of 42,000 m2 of office and retail space of the business park has been leased.
Business Garden Vilnius is located on a site of 6,2 ha near the Lithuanian Exhibition and Congress Centre LITEXPO and the Lazdynai forest. Kęstutis Vedeckis, Managing Director of Vastint Lithuania, says that both office buildings of the first project stage are fully finished and fitted.
“The biggest tenant – Ignitis Grupė, which has leased over 10,000 m2 in the business park, is moving in. They soon will be joined by Amber Grid with about 1,100 m2. And just recently the US IT company Rocket Software has opened their new office of 900 m2 at the business park” says K. Vedeckis.
“The range of tenants is expanding. Tenants‘ businesses, their employee job profiles and age are more diverse. The important thing is that they may enjoy those features of Business Garden Vilnius that are most appealing to each of them: aesthetic surroundings, various activities, office efficiency or comfort for employees” says the Managing Director of Vastint Lithuania.
According to him, as more lease agreements are still being finalised, it is expected that at least half of the premises of the first stage of the business park will be leased by the end of the year.
Offices are being actively leased in spite of the pandemic
Indrė Narauskaitė, Head of Office Solutions of the international real estate advisory company Newsec, says that currently the Vilnius office market is especially active – new premises are required by companies starting their operations and opening new offices in Lithuania, companies which are expanding, seeking higher class or better located premises or companies which need to optimize or consolidate their offices.
According to her, when choosing a new office, green spaces are becoming of an increasing importance. They help to motivate employees to return to business centres and provide conditions for productive and dynamic work.
“High quality business centres with a strong concept are being actively leased even during the pandemic. Though this business centre is at some distance from the city centre, the entire ecosystem has been created for employees here – sports facilities, cafes, well arranged surrounding territory close to nature. The success of Business Garden Vilnius demonstrates that trends of business parks are changing – the priorities have shifted towards sustainability, friendliness to the landscape, importance of the community and convenient public transport” says I. Narauskaitė.
Impressive green areas
According to the head of Vastint Lithuania, the entire concept of Business Garden Vilnius is focused on the strengthening of the community and wellbeing.
“Basketball, football, volleyball and beach tennis courts, sports and fitness centre, pedestrian and cycling paths have been erected at the business park. A bit later, mountaineering centre and tennis courts will be built” says K. Vedeckis.
Business Garden Vilnius will stand out with its exceptional green areas – they will be the largest among all the business centres in Lithuania.
“We have brought and planted an entire garden from the Netherlands: more than 35,000 plants. The green areas will cover almost 4,000 m2 at the business park,” says K. Vedeckis.
Additionally, recreational areas, benches, amphitheatres, special area with grilling facilities have been set up. Moreover, not only the tenants but also the city community will be able to enjoy the recreational facilities and green areas of the business park.
“It is also important that we are situated next to the forest of more than 10 ha and pedestrian and cycling paths are completely integrated into the Business Garden Vilnius concept,” says K. Vedeckis.
Further expansion of the business park is planned
On the same site of 6,2 ha Vastint Lithuania will soon start the second stage of the construction works of the business park Business Garden Vilnius.
„We plan to start the construction as soon as we finish the correction of the detailed plan and obtain the construction permit“ says K. Vedeckis.
According to him, after obtaining necessary documentation, Vastint Lithuania plans to build a large parking lot complex and two more office buildings of 10,000 and 15,000 m2 in 12-16 months.
„In order to rival the trend of working from home, offices will have to adapt to the changed needs. When analysing the preconditions for the return to offices, we see the increased significance of bigger and more diverse areas, better conditions for mobility and especially – for health and wellbeing. Business Garden Vilnius will meet all of these expectations“ assures K. Vedeckis.