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Update from the originator:
The loan has been cancelled.
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Macro Location Analysis
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Loan To value
Purpose of the loan- to purchase real estate - apartment 42.31 sq. m. m. with an undeveloped shelter 136.99 sq.m. Vilnius, Zverynas district, Kęstučio str. 5. The shelter with the flat, will be developed, divided to separate units and sold. The credit will be paid from the sale of assets or by refinancing credit with another financial institution.
Collateral Real estate pledge
Guarantees / surety
Property type Residential
Mortgage rank First order mortgage
Value of collateral 271 000 €
Documentation Asset Valuation Report
Report preparation date 2021-09-09
Assessor UAB Kovertas
Location - one of the most attractive prestigious Zverynas district in Vilnius, which is near parks, stadium, close to the city center.
Apartment/Room – apartment.
The address of the apartment is Vilnius, Kęstučio g. 5 – 6 registered total area 42.31 sq. m. m., unique No. 1095-4004-4015:0010, purpose – residential (apartments), year of construction 1954, building wall material – bricks, property is on the 2nd floor of 2 floors, the condition of the property is in order, according to the statement of the Central Data Bank of the State Enterprise RC real estate is 100 percent complete.
Non-residential premises are uninhabited shelter.
The address of the premises is Vilnius, Kęstučio g. 5 (Note. The shelter is not given a full address), registered total area 136.99 sq. m. m., unique No. 4400-1585-2681:8207, purpose – other, construction year 1954, building wall material – bricks, property is on the 2nd floor (shelter), property is in poor condition (not installed), according to the statement of the Real Estate Data Bank of the State Enterprise RC, the registered completion is 100%.
To ensure the repayment of the loan, a non-protestable bill of 330 thousand euros is provided for UAB Silk House. EUR for the duration of the loan.
It is planned to purchase the entire attic of the house, which is on the third floor of the house together with the apartment under the attic. The attic is planned to be completely renovated together with the whole house, i.e. the attic will be overhauled by installing two or three residential apartments. During the major repairs, it is planned to open large volumetric windows on the attic roof, which will be dominated by glass and a view of the park. The biggest advantages of the project are the amazing location, where there is a school, tennis courts and of course Vingis Park. There is also a closed yard of the house with nursing home, a plot of land belonging to the house and parking spaces.
Company title LTD Silko House
Company code 304694895
Company website www.silkonamai.lt
UAB Silk House is registered in 2017 and specializes in real estate development, construction and decoration and execution works. The company has 22 employees. According to the financial statements, net profit was TEUR 454 in 2019, TEUR 938 in 2020, net profit in 2019 (-EUR 1848), and in 2020 TEUR 89 . Equity in assets accounted for 16 % (TEUR 62). The company intends to acquire liquid assets in Vilnius, Zverynas district, to develop undeveloped shelter with the flat and to sell. This is not the first similar project that the company has already successfully implemented.
Completed previous similar development projects with shelters:
- Algirdo g. 18, Vilnius area for sale - 210 sq.m,
- Kauno str. 6, Vilnius, area for sale - 260 sq.m,
- Užupio 16, Vilnius, area for sale 200 sq.m,
- A. Mickevičiaus 7, Vilnius (KVAD protected building), reconstruction of part of the building (shelter) by changing the purpose to residential and installing apartments for sale area 140 sq.m,
- A. Vivulskio str. 6, Vilnius full roof overhaul by installing 14 apartments, total area for sale 650 sq.m.
The largest objects implemented: Vilnius Akropolis finishing works, Business Garden offices of about 4500 sq.m finishing works were installed on the order of UAB Vastint.
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