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Hoffmann Rezidence

Kugu street 13, Riga, Latvia

Hoffmann Rezidence

€10M

Investment size

€6,5M

Equity investment

€297K

Expected profit

15,7%

Expected IRR

Project info

Key facts

  • 3'240m2 net sellable area
  • 50 apartments, 3 lofts
  • Rekonstructed building and renovated facade
  • 7 penthouses on top floor
  • 6 private garages and bicycle storage
  • Lower property taxes
  • Elevators
  • Air recuperation system
  • Winner of Luxury Lifestyle Awards 2021 in the category of Best Luxury Residential Renovation Project
  • www.kugu13.lv

Hoffmann Rezidence is a residential renovation project in Riga, Latvia. The project is located at prime neighbourhood –Klīversala, at the waterfront of river Daugava providing a panoramic view over the Old Town of Riga. The historic centre of Riga is included in UNESCO World Heritage list.

The development of the project foresees renovation of an eclecticism building, which was built at the beginning of 20th century. The purpose of this development project is to preserve the historical value of the building while upgrading it with modern and efficient engineering solutions. Comfortable 1-4 room apartments with high ceilings will have either waterfront or courtyard views, all of that just a 5 minutes’ walkaway from the city centre.

The project has been started in September 2019. Renovation of the facades will be finished in September 2021, followed by interior construction works done by spring 2021 and overall construction works are expected to be completed by the end of summer of 2022. Renovation of Hoffmann Rezidence’s  3240 m2 of sellable area will create 50 apartments, 3 lofts and 7 penthouse apartments with a beautiful panoramic view of the Daugava river and Riga Old Town. Total investment size of the project is 10 million euros.

Hoffmann Rezidence project has reached the point where apartment sales are taking place. The facade of the building and demo apartments are finished.

To book a visit and find out more about project- www.kugu13.lv

Key facts

  • 3'240m2 net sellable area
  • 50 apartments, 3 lofts
  • Rekonstructed building and renovated facade
  • 7 penthouses on top floor
  • 6 private garages and bicycle storage
  • Lower property taxes
  • Elevators
  • Air recuperation system
  • Winner of Luxury Lifestyle Awards 2021 in the category of Best Luxury Residential Renovation Project
  • www.kugu13.lv

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