COBALT advised VPH Latvia on development of a new shopping centre in Riga

COBALT advised VPH Latvia on development of a shopping centre on Valdeku street in Riga. It is expected that the new shopping centre will open its doors to the visitors at the end of 2021.

The new shopping complex will consist of two buildings with a total GLA of 4,300 sqm. The planned project investment is ca. EUR 8 million. One of the buildings will be occupied by built-to-suit Lidl grocery store, the other building will be occupied by other retailers and caterers, including Spirits&Wine, Apotheka, DinoZoo, Čili Pizza and Iecēnu delikateses.

COBALT team including Managing Partner Dace Silava-Tomsone advised VPH Latvia on issues related to construction and lease agreements.

VPH develops and manages world-class commercial real estate for international and strong domestic tenants across the Baltic States and Belarus.

Colliers International was involved in the development of the project concept and attraction of tenants.