Leasing Transition: A New Chapter for Rikets Aianduskeskus OÜ
In a significant change in the real estate landscape, a new leasing arrangement has emerged involving Rikets Aianduskeskus OÜ, a notable member of the Rikets group known for its extensive experience in retail. This transition follows the cancellation of an existing lease agreement with Hortes AS, which is now undergoing bankruptcy proceedings.
Background on the Lease Agreement
The former lease agreement, established in May 2017 between EfTEN Seljaku OÜ, a subsidiary of the fund, and Hortes AS, was set to facilitate the use of properties located at Seljaku 4b and 2a. Unfortunately, after the court declared Hortes AS bankrupt in March 2025, the situation changed significantly. EfTEN Seljaku OÜ sought a guarantee for upcoming rentals and property maintenance costs to ensure a smooth leasing process.
The New Lease with Rikets Aianduskeskus OÜ
As the lease agreement with Hortes AS came to an end on March 31, 2025, a new venture began. Starting April 1, 2025, the premises will be occupied by Rikets Aianduskeskus OÜ under a fresh lease. This new partnership aims to solidify the presence of Rikets Aianduskeskus OÜ in the market, further enhancing its capacity to provide quality products and services to customers.
Who is Rikets Aianduskeskus OÜ?
Rikets Aianduskeskus OÜ is part of the Rikets group, boasting a remarkable 30 years of retail industry experience. The group operates multiple flower shops across Estonia, currently running 20 outlets primarily located in major shopping centers. Moreover, they maintain a distribution center in Lagedi and a gardening farm in Vana-Aespa, where a variety of high-quality cut flowers and potted plants are cultivated. Notably, Rikets garden ranks among the top four summer flower growers in Estonia, employing a dedicated workforce of around 96 individuals.
Looking Forward
The transition to Rikets Aianduskeskus OÜ marks a promising development for the company and the local community alike. With its expertise and resources, the Rikets group is set to leverage the lease to strengthen its market position further. This new chapter signifies not just the continuation of operations at Seljaku but also the commitment to delivering high-quality floral products to customers in Estonia.
Conclusion
As this leasing change unfolds, both EfTEN Seljaku OÜ and Rikets Aianduskeskus OÜ have expressed optimism regarding this new collaboration. The agreement not only signifies a change in tenancy but also opens doors for growth and innovation in the horticultural sector.
For inquiries, please reach out to:
Viljar Arakas
Member of the management board
Phone: 655 9515
Email: viljar.arakas@eften.ee
Frequently Asked Questions
What led to the lease termination with Hortes AS?
The lease with Hortes AS was terminated following the company's bankruptcy declaration and their failure to provide a financial guarantee for upcoming obligations.
When does the new lease with Rikets Aianduskeskus OÜ start?
The new lease agreement with Rikets Aianduskeskus OÜ will take effect on April 1, 2025.
What does Rikets Aianduskeskus OÜ specialize in?
Rikets Aianduskeskus OÜ specializes in horticulture, primarily focusing on retail flower sales, with a significant number of flower shops and cultivation operations in Estonia.
How many employees does Rikets Aianduskeskus OÜ have?
The company employs around 96 individuals who contribute to its diverse operations in the floral retail market.
What is the significance of this leasing change for the local community?
This leasing change signifies growth and improved access to quality gardening products and services for the local community, fostering economic development.
