Liven AS Acquires New Development Property
Liven Kodu 22 OÜ, a member of the Liven AS group, has made a significant move by securing a land plot intended for residential development. This acquisition underscores the company's dedication to delivering quality housing in desirable locations. The agreement, made under the law of obligations, pertains to a plot located at Kalda 5 / Käokõrva 1-12.
Acquisition Details
The property comes with an existing detailed spatial plan and an approved building permit, allowing for the construction of 12 three-storey residential buildings that will house a total of 72 apartments. The expected saleable area is around 6,000 square meters, presenting a significant opportunity for housing development.
Financial Aspects of the Transaction
This transaction is valued at approximately EUR 3.1 million, which includes VAT. Liven AS plans to make the payment in installments during the current quarter, reflecting their strategic approach to financial management.
Funding Through Green Bonds
Liven intends to utilize funds from green bonds that are set to mature in spring 2024 to finance this acquisition. This decision highlights the company's commitment to sustainability and responsible investment in development initiatives.
Management's Perspective
Andero Laur, the chairman of the management board at Liven AS, shared his excitement about this acquisition. He noted that the firm is thrilled to have secured a new plot in the Nõmme district, especially considering that over six years have passed since their last successful development in the area. This time gap has resulted in numerous inquiries from clients seeking new housing options from Liven.
Success of Previous Developments
Liven's history in Nõmme has been notably successful, with all homes from their last development selling out six months before construction was completed. This success has further increased demand for more homes from Liven, showcasing the company's reliability and popularity among homebuyers.
Plans for Future Development
The newly acquired property not only enhances Liven's portfolio but also aligns perfectly with their strategic development plans across various districts, including Haabersti, Pirita, Põhja-Tallinn, and Kesklinn. This area is poised to offer a family-friendly environment, complete with ample green space and a low-rise building design.
Customizable Home Designs
Liven aims to give future homeowners the ability to customize their home layouts to suit their individual preferences. This approach reinforces Liven's commitment to creating personalized living spaces.
Timeline for Sales and Construction
Sales for the new development are anticipated to begin in 2025, with construction planned to occur in multiple phases. This phased strategy will enable Liven to effectively manage resources and fulfill client expectations as the project progresses.
Contact Information
If you have any questions regarding this acquisition or other business inquiries, please reach out to:
Joonas Joost
CFO, Liven AS
Email: joonas.joost@liven.ee
Frequently Asked Questions
What is the total value of the property acquisition?
The total value of the acquisition is EUR 3.1 million, including VAT.
How many residential buildings are planned for the new property?
The development will consist of 12 three-storey residential buildings.
When is the sales process expected to begin?
The sales for the new development are scheduled to start in 2025.
What is Liven AS's approach to home customization?
Liven AS plans to offer customizable layouts for homeowners to cater to their personal needs.
Who can be contacted for more information regarding the acquisition?
For more information, you can contact Joonas Joost, the CFO of Liven AS, via email at joonas.joost@liven.ee.
