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Office and Crypto hotel project

flagVinkli 13, Tallinn, EstoniaRentalCommercialExited
Internal Rate of Return14.07%
Total exited price€206,350

Object overview

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[19 payouts from rental yield]


Given property is located in Mustamäe district, Tallinn and consists of 22 office rooms with the total area of 628 m2 with the valid rental contracts. We have the possibility to rent them together as one unit or separately, depending on the tenant agreement. Latest investment value, according to the appraisal report is 190 000 EUR (includes 20%) VAT.

Mustamäe is a residential district with one of the best micro-climates in Tallinn. It is well connected with the city center, which is only 6,5 km away from our property. Estonian biggest Technical University (TTU) is located in this part of the city and attracts students into this area. Here is also located the medical campus, Science & Business Centre Tehnopol, higher education institutions, as well as trade outlets and community services, and more. The industrial part of the area is also evolving rapidly with a large number of production and warehouse buildings in the immediate vicinity.

Vinkli 13 close location to high voltage substation gives the possibility to use part of the property for Crypto mining hotel, as we get electricity with discounted price and the construction of Crypto mining infrastructure will have the minimum costs. This is perspective business model which allows us to rent out these rooms with higher, than average rent. Crypto mining is the process, by which special machines verify transactions and add them to the public ledger, known as the blockchain. We will renovate the rooms for that purpose, as it requires special electricity connection and ventilation.

The property's perspective location will be a key factor in the rise of its value and increased demand for smaller Offices with low maintenance fees. At the same time, there is intensive construction or residential apartments in neighboring districts which will increase the density of population in given region. Expansion of Tallinn Technical University and its Institute of Cybernetics, expansion of nearby Technopol and Science Park will make this area one of the most sought-after technological and industrial hubs in Tallinn.

At the moment the following legal actions for Vinkli 13 development are already confirmed by the city council:
1. Permit applications have been filed with the local administration for development of large-scale modern stock-offices and warehouses on most land plots directly neighboring with Vinkli 13, which in turn, should increase the value of the property.
2. The Mustamäe district administration of Tallinn has confirmed building the extension of Vinkli street up until Kadaka street, making this property logistically much more approachable and valuable in the future.

Macro environment of Estonia:
The GDP in 2017 has shown growth - 1,6% in 2017. Inflation rate stays between 3% and the salary growth has slowed down. The unemployment rate is going down and mostly it is outside the capital cities, what is why the prices are much lower due to the problems of the search for a new job. The biggest rate of vacant jobs is in Tallinn district - 68%, that is why people are moving to the capital, what also influence the property demand.


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