For sale: a development property on the Tehnika 8 and Tehnika 8a plots in Kelmiküla, in the immediate vicinity of Snelli Park, Baltic Station, Telliskivi and Tallinn Old Town. A very good residential investment opportunity for a small developer or investor looking for a compact and distinctive residential development project in a very strong location.
Key information:
• total land area of the properties: 1,229 m²
• maximum planned gross enclosed area: 930 m²
• existing building: 683 m²
• new planned building: 247 m²
• together with the new building: 11 apartments and 1 non-residential unit
• planned number of floors: 2+1
• design specifications have been issued
The existing building has long-term tenants, giving the investor a functioning starting point even before beginning the next development phase. It is possible to construct a new building in the courtyard and enhance the value of the existing building by developing the basement and attic.
The property’s strengths lie primarily in its location, moderate development volume and clear potential for further progress. The area’s value is supported by its historic atmosphere, greenery, excellent accessibility and immediate proximity to the city’s key points of interest.