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Real estate in Daugavpils auctioned for EUR 0.55 million


On 20 July, the partially leased real estate in Daugavpils - commercial premises at 18. novembra street 105, consisting of a land unit of 1737 m², a land unit of 1149 m², an administrative building of 7051.9 m² and engineering structures, was sold for EUR 545 320 at a new auction.

One bidder applied for the property. After one auction step, its starting price of EUR 540,320 was increased by the  EUR 5,000 set as the auction increment. A purchase contract with the successful bidder could be concluded in about one to two months.

The building was planned by the General Building Trust for its needs and construction work began in 1989.

In 2000, the building was transferred to the possession Ministry of Finance on the basis of a Cabinet of Ministers' Order. It is worth mentioning that the building is located on two other land units owned by other persons. The building currently has several tenants, the major of which is the Office of Citizenship and Migration Affairs. More information about the property is available here.

In accordance with the company's strategy, VNĪ maintains in the long term the properties that are necessary for the state administration, while the properties that are not necessary for the 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 find a new use.

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.