Undeveloped property on the busy Riia Road!
Plot area 1031
An undeveloped property in a highly visible location along the busy Riia Road, immediately near the Papiniidu intersection. The 1,031 m² property is currently designated as residential land; however, according to the comprehensive plan of the City of Pärnu, the area is intended for mixed-use development. As a rule, the comprehensive plan foresees commercial functions on the ground floors of buildings located within mixed-use areas, although single-purpose buildings are also permitted where characteristic of the surrounding area. Nearby properties include Mai Business Centre (adjacent property), Riia House, Papiniidu Centre, Lidl, Kaubamajakas shopping centre, and apartment buildings.
For development of the property, it is possible to apply for design conditions for the construction of one (commercial) building together with supporting structures, and after completion of the development, the land-use designation may be changed according to the actual use. Development involving multiple buildings or a different building concept requires the preparation of a detailed spatial plan to determine building rights. The surrounding area mainly consists of 2–3 storey buildings, with commercial plots having a building coverage ratio of approximately 35–40%.
Aerial photo: Estonian Land and Spatial Development Board.
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KINNISVARAEKSPERT has been operating on the Estonian market since 1993. Our offices are located in Tallinn and Pärnu, and we serve you all over Estonia. Through cooperation partners Nord Prime Capital and Alliance Group UAB, we are also represented in Latvia and Lithuania.
We offer brokerage services, valuation and real estate advisory services in both the private and commercial sectors.
Kinnisvarekspert works closely with one of the world's largest real estate companies, Cushman & Wakefield. Our cooperation spans all over the world.
You can find more information at www.kinnisvaraekspert.ee
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