The Majaka 54 - 13 investment property is a large 94.5m2 two-floor apartment located next to Tallinn’s Ülemiste City tech hub. The apartment building itself is old, and is in need of some renovation. However, our apartment number 13 is a brand new addition to the property. The apartment is divided between the 3rd and 4th floors, which are both new constructions on top of the original building. The apartment’s current layout consists of 45m2 on the 3rd floor and 49.5m2 on the 4th floor of the building.
In addition, the duplex apartment has an 8m2 storage room located above the 4th floor. The apartment is currently in shell condition, with no interior finishings, no water pipes or electrical wirings. The building’s facade is also in need of renovation.
Majaka street is becoming a new addition to the city centre, with various new developments being built in the surrounding area. The new T1 Mall of Tallinn is located across the street and it is planned to become the new heart of the capital, including a one-of-a-kind shopping and entertainment centre. Furthermore, the neighbouring Ülemiste City tech hub is a rapidly developing area, located right next to Tallinn Airport, welcoming international startups and tech companies.
The Majaka/Sikupilli area where our property is located was once considered as the outskirts of Tallinn, but due to the large developments taking place and its proximity to the airport, it is now an organic part of the city centre. This flourishing neighbourhood also has various new schools and kindergartens due to the area’s newfound status as a business and tech district.
There are various amenities surrounding the property, including the Ülemiste and Sikupilli shopping centres, gas stations and public transportation. Our property is conveniently connected to various bus and tram stops, which take you directly to the airport (4 stops away) and the city centre (10 min away). From the Ülemiste train station you can also get the train to Tartu (2 hours away), Estonia’s second largest city and home to the prestigious Tartu University.
This object has passed Reinvest24 risks assesment and is secured by Collateral Agent mortgage.