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Īle sanatorium auctioned for 153 700 euro, Mālmuižas castle to be reauctioned


On 21 April, the real estate property "Īle sanatorium" in Dobele municipality was auctioned for 153 700 euro, while the Mālmuižas Castle in Gulbene municipality will be reauctioned, informs Andris Vārna, Member of the Board of the State Real Estate Company "Valsts nekustamie īpašumi" (VNĪ).

 Three bidders wanted to buy the 23-hectare property "Īle sanatorium", and after 131 auction steps, the starting price - 88,200 euro - increased by 74%. The purchase contract with the successful bidder could be concluded within about one to two months after the buyer has paid for the auctioned property. 

"We are really happy with the results of the auction of the Ile sanatorium. This is a clear signal that, despite the difficult economic backdrop, investors have a sustained interest in investing in historic real estate. For the public, this means that relatively soon, perhaps in a few years, our country will have become even more beautiful and another corner of Latvia will have been cleaned up," says Vārna.

The buildings of the Īle manor were built in the 19th and early 20th century and are characteristic of the layout and spatial organisation of the manor centre in the mid-19th century. The manor's historic buildings preserve the castle, the park, the stable, the laundry house and the inn, as well as the 20th-century elements of the 20s-30s sanatorium buildings - the director's house, the sunroom and the former office building.

 Today, the real estate "Īle sanatorium" comprises 22 buildings, including cultural monuments of national and local importance, with a total area of 23 hectares, including 14.4 hectares of forest land. From 2007 until 30 May 2014, it was managed by the Ministry of Welfare. The property came under the management of VNĪ on 30 May 2014, when the Ministry of Welfare transferred it to the Ministry of Finance.

For the real estate "Mālmuiža", located in Lejasciems parish, Gulbene municipality, , a new auction will be announced in about two weeks and the starting price will be reduced to EUR 72 720. The starting price of the previous auction was 80 800 euro.

The property "Mālmuiža" contains an architectural monument of local significance "Mālmuiža buildings". The manor house of the clay manor was built in the late 19th and early 20th century. The distinctive-looking building is made up of three parts: two almost parallel parts and a third connecting part. It had a balcony at the back, which has been lost over time, but a terrace with stairs remains. The ground floor is made of brick, while the first floor and the roof are made of wood. The window openings and the separating strips between the floors or the cornice were decorated with wooden silhouette carvings. It is only thanks to the wooden parts that the building has a more pleasant appearance. More information about the property here.

In accordance with the company's strategy, VNĪ maintains properties that are necessary for the state administration in the long term, while properties that are not necessary for public sector institutions in the long term and cause losses to the state are sold by public auction or transferred to other holders in accordance with the procedure established by law. Properties in the share capital that are loss-making and cannot be leased to commercial tenants are put up for disposal, allowing them to be put to new uses.

SRE provides professional real estate management and administration for 350 building and structure properties, comprising 975 buildings with a total area of 0.95 million m2, as well as land beneath structures with a total area of 599 ha, and 3441 land properties with a total area of 892 ha. SRE is one of 23 Latvian companies that received the highest platinum award in the Institute for Corporate Responsibility and Sustainability's Sustainability Index 2022, demonstrating good governance and sustainability of its operations. The company was founded in 1996 and its sole shareholder is the Ministry of Finance.