The real estate development company "Bolds Property Partners" has completed the first phase of development of the 1,4 ha business park at the intersection of Mykolos Lietuvios and Ukmergės streets in Vilnius. The first 4300 sq.m. m commercial building, the construction of which is to invest 6 million. euros.
In the northern outskirts of Vilnius, it is planned to further develop a business park and offer up to 12 square meters for rent. m of commercial premises. In the next phase, next to the already completed building, business cottages will be developed - smaller-sized commercial, service, storage and office buildings, each with a separate entrance from the outside and independent engineering systems. Design work for this phase is already underway.
"We started the development of this project six years ago, when we managed to consolidate five plots of the village that remained here. Later, we purchased four more plots and this area forms the territory where we have now completed the first stage of development of the business park - the commercial building at M. Lietuvio 6", says Paulius Lavrukaitis, partner of Bolds Property Partners.
The second phase of the development of the business park is being developed by connecting five more newly acquired sections of the former village to the existing plot, which allowed the formation of a regularly shaped quarter between Ukmergė, M. Lietuvios and Salomejos Nėries streets.
"We are happy with the fundamentally changed view at the intersection of the West Ring Road and Ukmergė Street. The newly asphalted and repaired section of M. Lietuvio Street and the first commercial building fundamentally changed the appearance of this area - the former village with old homesteads is transforming into a modern commercial city. We are sure that the success of this business park will be fully revealed in the future in the further development of this part of the city", says P. Lavrukaitis.
During the construction of the building complex of the business park, the city was also obliged to fix the section of M. Lietuvios Street and reconstruct the intersection of Ukmergė and M. Lietuvios Streets, to install an additional traffic lane for safe and convenient turning into the new business park. The reconstruction of the intersection and the widening of Ukmergė Street have already been completed, and part of M. Lietuvio Street has also been paved.
In the completed commercial warehouse building, M. Lietuvio g. 6. Nine rooms of 430-450 sq.m. are offered to the market. m. Seven of them have already been leased, some companies have already established themselves and are operating in the new premises. Among such companies are UAB Gitana, which sells tools, and construction equipment rental company Ramirent, which leased 1400 sq. m area with several connected premises, UAB "Balsana", which sells and installs tires and rims, UAB "Beatričės Saldumynai", which bakes cakes and desserts, and works under the "eTortas" brand.
The commercial warehouse building was built by the construction company Binkauskas ir Stašinskas UAB. Due to supply chains disrupted by the pandemic and rising material prices, construction work took several months longer than planned after receiving a building permit last spring.
"We stayed within the planned budget and I think we were relatively little behind schedule. The situation in the construction sector began to change drastically about a month after the contract was signed. We constantly informed the tenants with whom the contracts had already been concluded about the situation and we managed to agree on the postponement of the deadline early enough. Part of the lease contracts were already signed in the middle of the construction, so we already knew the adjusted deadlines for the completion of the construction," says P. Lavrukaitis.
