Linstow Acquires Key Riga Property Near Central Station for €2 Million Redevelopment

Real estate development company SIA “Linstow” has purchased a prominent building at 2A 13. Janvāra iela in Riga, Latvia, located directly outside the entrance to Riga Central Railway Station. The acquisition signals a potential investment of up to €2 million in the property’s development and the surrounding area, according to the company as reported by LSM.lv.

Strategic Location and Redevelopment Plans

The purchased property consists of a 211.3 m² single-story building situated on a 390 m² land plot. Previously occupied by the “Fenikss” gaming hall, which closed in September 2023, the site had attracted interest from a Finnish fast-food chain for a potential food court, but that plan did not materialize according to LSM.lv.

Linstow’s long-term vision focuses on enhancing the neighborhood and maximizing its development potential. Frode Gronvold, Chairman of the Board of Linstow, stated the company aims to transform the area into a leading business center in the Baltics, featuring offices, retail spaces, high-quality public outdoor areas, and improved infrastructure as reported by LSM.lv. This development is intended to attract international companies, investors, and talent, bolstering Riga’s international competitiveness.

Collaboration with Riga Municipality

Riga Mayor Viesturs Kleinbergs (Progressives) expressed the municipality’s support for the project, noting that the former gaming hall had been a detriment to the urban environment. The municipality is committed to working with Linstow to create an open, organized, and accessible space, and is prepared to remove bureaucratic obstacles to facilitate development according to LSM.lv.

The municipality also plans to seek European Union funding to further improve the area around the station, including the creation of fresh pedestrian crossings, parking solutions, and cycle paths as reported by LSM.lv.

About Linstow Baltic

SIA Linstow, registered in October 1996, has a share capital of €61 million and is wholly owned by the Norwegian company Linstow according to Lursoft. Linstow Baltic is a leading real estate developer in the Baltics and has recently entered into a cooperation agreement with the Latvian Academy of Arts to establish the Linstow Art Award as stated on their official website. The company is also developing the Satekles Business Center near Riga Railway Station, with SEB Latvia as its anchor tenant, scheduled to open in 2025 according to Linstow.