The University of Latvia (UL) will auction several historical buildings it owns in Riga, with a total market value estimated at over 20 million euros, the university reported.
The funds raised are planned to be invested in the development of the Academic Center in Tornakalns.
The first auctions are scheduled for May and June, and they will feature the buildings of the Faculty of Economics and Social Sciences of the University of Latvia located at Aspazijas Boulevard, 5 (in the photo) and Lauvas Street, 4. Both properties will be alienated on the condition that the university continues to use the premises until the completion of the construction of the House of Literature and the end of the relocation process.
The most valuable of the properties offered at auction is the complex of buildings at Aspazijas Boulevard, 5. Its total area is 14,793 square meters, and the land plot area is 5,122 square meters. The starting price of the building at auction is 10.8 million euros.
The Vice-Rector for Development of the University of Latvia, Enno Ence, notes that this is a unique property in the center of Riga with wide possibilities for use. After reconstruction, the building can be adapted for a hotel, apartments, offices, or commercial purposes.
The auction for the sale of the building on Aspazijas Boulevard will begin on May 27 on the electronic auction website, and applications will be accepted until June 16.
As is known, the University of Latvia has long attracted applicants not only with a decent scientific base but also with the convenient location of its faculties in the center of Riga. According to the editorial team of bb.lv, now the latter aspect will have to be forgotten (at least for students of some faculties). We advise prospective students to find out in advance where they will be studying in terms of location. After all, there is a difference between Tornakalns and the city center. And this is also very important...
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