Colliers Interational, 2007-07-30
by Mariliis Sepper
Tallinn, Estonia
Tallinn, Estonia, July 13. An Irish development group "Keltic Developments Group" has bought more than almost 80 hectare of land for development in Estonia for €20 million. This is the largest land purchase by the Irish company in the Baltic States. NordShore Corporate Park owners plan to invest into the project €350 million.
The Corporate Park is situated just outside Tallinn, the Estonian capital, on the crossway of Põhjaranna and Muuga Street, next to the largest port in Estonia, Muuga Harbour. The strategically advantageous location of NordShore Corporate Park makes it easily accessed by railway, road and sea transportation. Considering company’s and employees needs, has a Hotel that will accommodate visitors and clients, retail premises to serve the local residents and people who work in that area. The Corporate Park will create an environment that from one side supports the progress of the Maardu City, to becoming the modern industrial area and from the other side the local people.
download the picture  NordShoreCorporate_Park.jpg (5.05 MB)
Total area of the largest Corporate Park in the Baltic States is 78.2 hectares; the land plots sizes vary from 5,000 sqm. - 20,000 sqm, with a possibility to compound the plots. First of all the Park is ideal for companies who’s business partner is Muuga Harbour or the core business is related to harbours. Secondly for companies who are planning to expand.
It is possible to develop a separate railway line inside the NordShore Corporate Park.
Peterburi and Üleoru crossroad will be built as multi-level in the near future. In order to facilitate growth of Muuga Harbour for the coming years, construction of remarkable new buildings is under way. The major planned investments in the harbour include extension of the eastern side of Muuga Harbour and development of Muuga Industrial Park.
By 2007, Tallinn and its vicinities have in total 684,000 sqm of warehouse and industrial premises. Vacancy rate in new and modern facilities is close to zero, proving that the demand for industrial premises is high. Also a possible increase in prices should be considered, if the land and construction material prices will continue to grow.
Commercial Property Consultant Colliers International is the exclusive representative of the project. Selling of the land plots starts this months and the price starts from 100 €/sqm. Development of the communication network lines will start at the beginning of 2008. The projects funding will come outside from Estonia.
About Colliers International
Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.
Contact Information
Additional information:
Mariliis Sepper
Colliers International
Marketing & PR
Tel: 372 6622 776
GSM: 372 56500 623
m.sepper@colliers.ee
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