Vastint Lithuania has recently been successful in a tender procedure for purchasing a land plot in the city center of Vilnius.
The tender for the site was organized by the Lithuanian State on 14 April 2016. Vastint Lithuania was successful in its bid and recently signed the final agreement for the purchase. The site consists of in total seven smaller plots, all being sold together.
The site is located within just 200 meters from the Vilnius Cathedral Tower and even closer to the Gedimino avenue and Neris river. The site lies within walking distance of all significant areas of Vilnius Old Town, including retail infrastructure, schools, services, restaurants and public transportation. There are a few adjacent buildings along one side of the plot, with the remaining sides surrounded by streets (Tilto, Zygimantu and Radvilu streets).
“The acquisition of the site is part of our long-term strategy for investments on the Lithuanian market and secures a stable growth of our operations. The intention is to develop a mixed use project, taking into consideration the heritage of the area.” says Kestutis Vedeckis, Managing Director Vastint Lithuania.
Vastint has previously implemented several successful office and hotel projects in Vilnius. The most recent finalized project was the UNIQ Business Center, which is leased by Danske Bank DGITL.