Liven AS group’s (Liven) wholly owned subsidiary Liven Kodu 25 OÜ has entered into a notarised agreement to acquire development properties located at Pärnu maantee 35, 37 and 41 in Tallinn city centre.
The monetary value of the transaction is EUR 10 million, while the estimated total investment volume of the project is approximately EUR 40 million. Under the notarised sale agreement, ownership of the properties will transfer to Liven upon the conclusion of a real right agreement, which is planned to be concluded within two months at the latest. Three buildings of 3–7 storeys are planned on the properties, with a total above-ground building right of 15,000 m², of which approximately 80% will be residential premises and 20% commercial premises; the commercial premises intended for public use will be located on the ground floors of the buildings along Pärnu maantee. In total, more than 160 homes are planned in the development, with the final number and solutions to be specified in the course of design. Construction is scheduled to begin at the end of 2027, and the development will be carried out in stages, with completion expected between 2029 and 2031.
The planned homes will be functional and energy-efficient, with a private and green inner courtyard, offering a well-considered living environment in the rhythm of the city centre.
“The acquisition of the Pärnu maantee properties brings Liven’s homes to one of the best-known and best-connected locations in Tallinn city centre – work, schools, services and leisure are all within easy reach. This is exactly the kind of city centre location that many homebuyers have been waiting for from us,” commented Andero Laur, Chairman of the Management Board of Liven. “The new development is an important addition to Liven’s long-term development portfolio, supports Liven’s results for 2029–2031 and enables the recently raised capital to be put to efficient use,” added Laur.
Mait Suursaar
Liven AS Financial Controller
E-mail: mait.suursaar@liven.ee