The real estate fund called Right Bank Development Fund, managed by the investment management company Lords LB Asset Management, is starting the construction of a business centre on Konstitucijos Avenue in Vilnius. Next to the planetarium and in front of the Vilnius municipality building, a seven-storey and more than 30 thousand sq. m office complex will be built.
The closed-end investment fund for informed investors announces that it has also chosen its business centre partners: Conres has become the general construction contractor of the project, and a contract for property rental mediation services has been signed with Colliers Baltics.
‘The new business centre will bring life and energy to the further development of Konstitucijos Avenue. In Vilnius, there is still a need for high-quality, exemplary class A offices that create value for the entire city. We hope that not only Lithuanian but also international companies or companies currently considering Lithuania as an investment opportunity will recognise the potential of the new business centre,’ says the Fund Manager of Lords LB Asset Management, Marius Žemaitaitis.
The construction is planned to be finished at the end of 2025
The future business centre complex was designed by the well-known British architectural company RSHP LLP, together with Lithuania partners Unitectus. The list of designed facilities includes world-famous buildings such as the Pompidou Centre of Art in Paris, the headquarters of the European Court of Human Rights in Strasbourg and the Millennium Dome in London, now known as The O2 Arena.
The construction project envisages that the future business centre will consist of two neat, unevenly overlapping rectangular structures, which will be separated by a sunken fifth floor.
Ernestas Šeženis, the CEO of the general contracting company Conres, which is handling the construction, says that the new business centre will stand out not only with its modern architecture but also with modern and sustainable construction solutions.
‘The building will feature cantilevers of various sizes and the structures of some storeys will be ‘framed’ in metal trusses, which will not only interconnect them but also emphasise the architectural expression. We are happy that the customer appreciated our vast experience and our team of professions and chose our company to implement this project. We intend to finish the construction works on time, at the end of 2025,’ says E. Šeženis.
Catering, retail and service provision spaces are planned for the first floor of the new business centre, and on the upper floor, there will be office premises that will encompass up to 1.5 thousand employees.
Two underground floors of the building will be provided for cars, with 340 parking spaces designed. In addition, bicycle storage facilities and charging stations for electric scooters are to be installed in the business centre.
All the composite elements of the building will be connected by an atrium covered with a glass skylight in the middle of the business centre. Vilnius residents and guests of the city will be able to enter it round-the-clock.
Some environmentally friendly solutions are to be implemented in the A++ energy efficiency class building, including smart engineering technologies, which will help optimise costs, and a solar power plant installed on the roof, which will provide the business centre with electricity.
In the future, the building is planned to be certified according to the international system BREEAM, with the aim to receive an ‘outstanding’ rating in a new construction category.