Gate Tallinn, one of the largest to be developed business parks in Estonia, located on a 60-hectare site near Laagri in Saue municipality, has signed an agreement with the asset management company Lumi Capital, according to which Rimi Estonia’s new head office, central kitchen and logistics center will be opened by 2024. As a result of the transaction, half of Gate Tallinn’s commercial plots have been sold.
Chester Universal, the developer of Gate Tallinn, sold a 7.7-hectare plot with a total construction area of 26,000 square meters to Lumi Capital. By agreement of the parties, the price of the transaction and the total volume of the investment are confidential.
Vaido Padumäe, CEO of Rimi Estonia, pointed out that the construction of the new head office will enable bringing logistics operations in Estonia under one roof, developing a modern central kitchen and building a modern office that supports modern and innovative ways of working. “All this creates preconditions for Rimi’s further development and growth in Estonia and helps to serve the stores in the best possible way,” explained Vaido Padumäe. Good accessibility by both car and public transport, green thinking, the possibility of expansion, efficient building planning, good parking facilities and an experienced developer were important for Rimi in choosing the location.
The development company Chester Universal, managed by the investment company Trigon Capital, started the active sale of the Gate Tallinn business park at the beginning of this year. In 2021, the infrastructure of the Gate Tallinn business park was completed, and at the end of November, a new Saue-Topi road was opened going through the business park. The developer has invested a total of over 5 million euros in the construction of the Gate Tallinn infrastructure, of which 2.4 million as co-financing for the Transport Board’s projects important for the development of the region.
“Today, more than 25 hectares of Gate Tallinn’s nearly 60 hectares of land have been sold to customers and developers, including infrastructure, taking into account about half of the project’s volume. In addition to Lumi Capital, the development plots have also been bought by Kapitel, Favorte, Makita and Pakhaus, which will make Gate Tallinn the most widely developed business park in the coming years. We will see the construction of the first buildings already in 2022, ”explained Rando Tomingas, the project manager of Trigon Capital.
“The demand for new high-quality commercial properties in and around Tallinn remains high. The location of Gate Tallinn on the border of the capital, by the Via Baltica, ensures a fast connection to Tallinn, neighboring cities and international trade routes, which is one of the most important arguments for companies. There are also railway and public transport connections with Tallinn and neighboring cities. Various skilled workers and professionals live and work in the surrounding larger employment areas in Saue, Laagri and Nõmme, which means that there is a significant amount of labor in the vicinity. Today, 100,000 people live within a 10-kilometer radius alone, ”added Tomingas.