Ober-Haus advises on the sale of the Evolution Business Centre in Vilnius

2018-06-01

Ober-Haus has advised an Lithuania based real estate company Evolution Office System on the sale of office properties in Vilnius, Evolution Business Center. Eften Real Estate Fund III managed by the Estonian investment company Eften Capital has purchased the Evolution Business Centre (Ukmergės Str., Vilnius) for EUR 9.02 million through Ober-Haus brokerage services. The building of the total area of over 13,300 sqm was purchased from Evolution Office System.

The 10-storey business centre was built in 2009. The building accommodates offices, commercial premises (on the ground floor) and a multi-level car park (229 parking spaces). The net leasable area of the centre is nearly 6,200 sqm.

Currently, 86% of the space is occupied by 15 companies. Telia is the largest tenant of the building. Other tenants include Eurovaistinė, Grifs AG, Compensa Life, Akzo Nobel Baltics, Flax Medical, and Dussmann Service. According to the representatives of the fund, full occupancy of the building will give a net profit margin of approximately 8% per year.