Liven AS Expands with New Development Property Acquisition
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Acquisition of New Development Property by Liven AS
Liven Kodu 22 OÜ, part of the Liven AS consolidation group, has entered a significant agreement to acquire a land plot designated for residential development. This acquisition highlights the company's ongoing commitment to creating quality housing in promising locations. The agreement, executed under the law of obligations, pertains to a plot located at Kalda 5 / Käokõrva 1-12.
Details of the Acquisition
With the existing detailed spatial plan and an issued building permit, the new property allows for the construction of 12 three-storey residential buildings, comprising a total of 72 apartments. The anticipated saleable area is approximately 6,000 square meters, which presents a substantial opportunity for housing development.
Transaction Financials
The total value of this transaction is estimated at EUR 3.1 million, including VAT. Liven AS plans to facilitate the payment of this amount in installments during the current quarter, demonstrating their strategic financial planning.
Funding Through Green Bonds
Liven intends to leverage funds raised from green bonds set to mature in spring 2024 to finance this acquisition. This move signifies the company's commitment to sustainability and responsible investment in development projects.
Management Insights
Andero Laur, the chairman of the management board at Liven AS, expressed enthusiasm about this acquisition. He indicated that the firm is excited to have secured a new plot in the Nõmme district, noting that over six years have passed since the successful completion of their previous development in the area. This gap has led to numerous client inquiries regarding new housing opportunities from Liven.
Previous Development Success
Liven's track record in Nõmme was described as highly positive, with all homes in their last development selling out six months prior to the construction's completion. This success has further fueled the demand for additional Liven homes, demonstrating the company's reliability and popularity among homebuyers.
Future Development Plans
The newly acquired property is not only a valuable addition to Liven's portfolio but aligns seamlessly with their strategic development plans that encompass various districts, including Haabersti, Pirita, Põhja-Tallinn, and Kesklinn. This area promises a conducive environment for family living, supported by a large yard and small-scale building design.
Customizable Home Layouts
Liven aims to provide future homeowners with the flexibility to customize their home layouts according to their personal needs. This approach underpins Liven's value proposition of creating tailored living spaces.
Sales and Construction Timeline
Sales for the new development are projected to commence in 2025, with the construction planned in several phases. This phased approach allows Liven to effectively manage resources and meet client expectations as the project unfolds.
Contact Information
For further inquiries regarding this acquisition or other business matters, please contact:
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 include 12 three-storey residential buildings.
When is the sales process expected to begin?
The sales for the new development are planned to start in 2025.
What is Liven AS's approach to home customization?
Liven AS intends to offer customizable layouts for homeowners to meet their personal needs.
Who can be contacted for more information regarding the acquisition?
Joonas Joost, the CFO of Liven AS, can be contacted via email at joonas.joost@liven.ee.
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