Update from the originator:
This part of the city has been the fastest growing area for the past few years, which has been driven by the rapidly growing demand. More than 100mil euros were invested in the development of the real estate and infrastructure of this part of the city. The process of the ships coming and leaving the harbor to create stunning scenery and the views to the old town make it even more valued. The area has several business-oriented world hotel chains, providing comfortable accommodation for your international guests.
Rotermanni district has a very colorful and rich history. It used to be the salt storage and production facilities more than 200 years ago. Within the last 15 years, it was rebuilt into a highly valued business area in the very heart of Tallinn. Many tech companies choose to establish their office in this area, due to its authentic environment, central location, excellent transport connections and physical proximity to ferries to Helsinki and Stockholm allowing you to board the ferry within 10 minutes of leaving meeting room in your office. The modern and comfortable working environment plays a huge role in tech companies for attracting talented IT people into their teams, and that’s what this high-end district aims to achieve.
In 2020 the development trend continues, and the demand for offices in this area stays high and stable.
Address: Ahtri 6a, Tallinn
This property is located on the sixth floor of modern office building built-in 2005. Many established companies use it as a location for their offices, including HQ of the development company of the Rotermanni district.
The property is a spacious office on the 6th floor, with a total area of 282m2. The office has views on both sides of the building, from one side it has a great view of the old town and from the other side, there is a nice terrace to take a break from a busy day at the office. Large floor-to-ceiling windows are very pleasing aesthetically and on the practical side also provide a lot of daylight.
The property has 3 spots for indoor car parking and has a large open-air parking lot to be used by employees or visitors.
Its great location speaks for itself: It’s located next to Rotermanni district, a huge shopping mall “Nautica” is just across the road. The most popular shopping center – “Viru” is 3 minutes away, the old town is in 5-minute walking distance, ship harbor is 7 min walk. Freshly finished seaside city promenade starts 100m from this building. Easy access by car, if you are driving and excellent connection by public transportation.
The investment property is a 282 m2 office space, with an additional 3 spots in the indoor car parking area. The property is located in the business center of Tallinn, with an address Ahtri 6a. Our property is located on the 6th floor of the modern building called “Admirals House”.
The property is located in the fastest developing part of the Tallinn city center. The demand for office spaces in the area has been growing rapidly for the last several years. That has attracted a lot of investment into the area and its infrastructure. The new developments in the area are selling for more than 4000 EUR per m2, even the average m2 price in the area is above 2700 EUR. We were able to close the deal with our property under 2000 EUR per m2, with an additional 3 spots in the indoor parking area, valued more than 10 000 EUR each.
The rental prices for modern office spaces in the area are ranging from 12 to 18 EUR per m2. In addition to that, the car parking spots can be rented out separately for 100-150 EUR per month. Our projections show that the real estate prices in modern buildings, as well as the rental prices, will balance out in the area within the next 5 years.
While in some case the value of the commercial real estate can rely a lot on the rental contract(s) it comes with and the cash flow it produces. This is not the case with this property. As an asset, it is a true store of value and one of the lowest risk investments on the Reinvest24 platform so far. Securing a good rental contract will not only provide great cash flow but also a huge upside for capital growth.
Developments in the area
100 million EUR investment into this area - development of new shopping centers, hotel and office spaces, located just 500m from our property. One of the most prestigious new development projects in Tallinn will be finished by the end of 2020. More than 80% of the commercial spaces are already rented out!
This historical area has been developing very rapidly for the past 15 years and is located just a few hundred meters from our property. Regarding the high demand in the area, the real estate developers keep making huge investments to develop the area further. Nordecon making 15 million EUR investment into Rotermanni 6 new development and the US Invest developing Ahtri 3 complex with 80 million EUR investment.
Port of Tallinn:
Read about the expansion plans for 2019-2023 and beyond
New road and promenade:
The city of Tallinn made 40 million EUR investment into the new road and promenade that starts from our building
Reinvest24 charges 1% investment placement fee on your investment.
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