Ciekurkalns

Summary

The current investment opportunity offers CROWDESTOR investors to make a loan for development of real estate project located in Riga, Ciekurkalna 7. Funds will be used for real estate reconstruction works.

CROWDESTOR loan will be repaid from the pre-bookings and sales of the apartments or refinanced by a long-term bank loan. 

Current investment opportunity offers CROWDESTOR investors to make a loan with 12,00% annual interest rate. Minimum target to be raised in CROWDESTOR platform is EUR 50 000,00 and the maximum target is EUR 280 000,00. 

Loan

Minimum target: EUR 50 000,00. 

Maximum target: EUR 280 000,00. 

Loan term: 12 months. 

Interest rate: 12 % per annum. 

Interest payments: paid monthly.

Loan repayment: In full at the end of the Loan Term. 

Crowdestor BuyBack fund: Yes. 

Collateral: The loan is secured by a guarantee of the borrower company.

Remember - interest rate payments start calculating from the day you make your investment!  

The Project

Object: 4 interconnected real estates on Ciekurkalna 7. transverse line 7, 7A and b/n, Rīga.

Cadaster No. of the properties: 0100 088 0062; 0100 088 0110; 0100 588 0041; 0100 588 0045

Land area: 7054m2 and 1043 m2 (the watch-house is located on land owned by another person)

Areas of buildings and structures: Administrative building - 5165,3 m2, Guard building - 82.7 m2, Asphalt area - 2916,4 m2, Fence with gate - 825,0 m2

Current type of use: Uninhabited building

Best type of use: Office building, small apartments, educational institution, hotel, etc.

Location

The property is located in the neighborhood of Ciekurkalns in Riga, on the 7th crossing of Ciekurkalns between Ciekurkalns 1st and Ciekurkalns 2. In the middle of the quarter, on the side of the street. The administrative building is located slightly away from the street, in the inner quarter.

The accessibility of public transport is considered poor, the nearest stops are located ~ 300 m from Ciekurkalns 1st and 2nd Lines, where only 9 bus runs. Access to property along the Ciekurkalns 7th crossing, covered with poor quality pavement.

Surrounding buildings consist of low-rise and multi-story residential houses and public buildings.

Short description of the parcels

Cadastral designation: 0100 088 0062

Plot area: 7054 m 2

Encumbrances:

• The area of the operational protection zone around the national defence object.
• Construction Restricted Area as defined in the Territorial Development Planning Document.

Improvements: The land is fenced and asphalted

Available Communications: Connections to central utilities (heating, electricity, sewerage, cold water)

Configuration: Polygon of irregular shape

Terrain: Flat

Risks (flooding, erosion, etc.): Minimal

Cadastral designation: 0100 088 0110

Plot area: 1043 m 2

Encumbrances:

• Telecommunication built in the territory of the land.
• Part of the plot is located on the red lines of the street.
• Cable networks owned by Latvenergo State-owned subsidiary "Rīgas elektrotīkli" 46 sq.m. area.

Improvements: The land is fenced

Available Communications: -

Configuration: Polygon of irregular shape

Terrain: Flat

Risks (flooding, erosion, etc.): Minimal

Brief description of buildings and structures 

Building: Administrative building

Cadastral designation: 0100 088 0062 001

Number of floors in the building: 4+ basement

Technical condition: Satisfactory

Planning: The building has 2 staircases, each floor in the middle has a long hallway from one wall of the building to the other, in each end there are sanitary facilities. At the ends of corridors there are sanitary facilities.

Technical specifications:

Building construction area: 1241,7 m2

Building volume: 19 526 m3

Total area of the building: 5165,3 m2

Exterior & Structures:

Basics: Reinforced concrete

External walls: Siliceous bricks

Coverings: Reinforced concrete

Roof: Flexible sheet materials

Engineering equipment:

Heating: City centralized networks

Electricity: Centralized networks

Gas: -

Sewerage: City centralized networks

Water: City centralized networks

Short description of interior decoration: The building has replaced windows and sanitary facilities, other rooms in the building are without major improvements, they are in need of carrying out modern technical and aesthetic repairs.

Building: Guard building

Cadastral designation: 0100 088 0158 001

Number of floors in the building: 1

Technical condition: Satisfactory

Planning: Guard service room, changing room, lounge, connected sanitary room, 2 utility rooms and 2 hallways.

Technical specifications:

Building construction area: 107,7 m2

Building volume: 295 m3

Total area of the building: 82,7 m2

Exterior & Structures:

Basics: Reinforced concrete

External walls: Siliceous bricks

Coverings: Reinforced concrete

Roof: Asbestos cement

Engineering equipment:

Heating: City centralized networks

Electricity: Centralized networks

Gas: -

Sewerage: City centralized networks

Water: City centralized networks

Short description of interior decoration: The interior of the building is free of major renovations and requires a modern technical and aesthetic repair.

Positive and negative factors affecting the value of the property

Positive Factors Affecting Real Estate Value:

• The property is located in the neighbourhood of Ciekurkalns, in a residential area
• The land is fenced with reinforced concrete fence and asphalt
• All city engineering communications are available
• Administrative building with a relatively satisfactory technical condition
• Relatively large plot of land

Negative Factors Affecting Real Estate Value:

• Driveway - cobblestone street
• The guard building is located on land owned by another person
• Large investments are needed to realize the best and most efficient use of property