Galio Group presents plans to construct the 2nd Gustavs Business Center building: chose Newsec as their lease partner

Galio Group presents plans to construct the 2nd Gustavs Business Center building: chose Newsec as their lease partner

A real estate development and management company Galio Group has announced their plans to start the construction of the 2nd of the three planned Gustavs Business Center buildings in Riga, Gustava Zemgala gatve. This development will add 14,400 sqm of quality and energy-efficient leasable area to the Riga Office Market. Newsec, an international real estate consulting company, has been chosen as the lease partner for the exclusive tenant search.

The Gustavs Business Center, when completed, will be a three-building complex covering a total leasable area of 41,000 square meters and 1000 parking spaces for tenant use. Kaspars Beitiņš, Member of the Board of Galio Development in Latvia shares that the complex is being developed in a former industrial area that is gradually being transformed into a vibrant urban space adapted to life, work and leisure. “The aim is to make the newly established business district a unique part of the historically rich and prestigious district of Riga, which is only 10 minutes away from the city center”, says K. Beitiņš.

The 1st building was completed and opened to the public already last year, currently accommodating more than 1,100 employees from anchor tenant SEB Global Services, tenants Prenta and iLunch. The 2nd building will be a 6-floor, with a total leasable area of 14,400 sqm and with 403 parking spaces in two level underground parking with electric vehicle charging stations, electric scooter charging points, and bicycle storages. “When designing and constructing our buildings we pay special attention to sustainability, to meet the highest BREEAM New Construction Excellent certification requirements. Gustavs first building in that received BREEAM Excellent Fully Fitted certificate in Latvia. It is crucial investment into our future. ” notes Kaspars Beitiņš.

As observed by the international real estate consulting company Newsec the construction of new office buildings in Riga has become more active only recently. “Until a few years ago, Riga had little- to-none vacant high-quality modern office space to offer in the city, forcing companies to settle their operations in old, energy-consuming, and inefficiently designed buildings. Fortunately, companies like Galio Group took the initiative and developed several high-class sustainable office building projects that now allow local and international companies to expand their operations and relocate to modern spaces. Galio Group’s approach to develop buildings with care for environment, to provide pro-ecological and energy saving technical solutions, build solar panels, and focus on employee comfort is in line with Newsec’s values, thus we are more than happy to collaborate with such proactive partner”, says Dace Priede, Head of Office Solutions of Newsec Latvia.

As D. Priede emphasizes, the added value of a high-quality workplace is one of the factors that, after the rapid popularity of remote work during the Covid-19 pandemic, now helps attract employees back to offices. “Future office work will be dominated by a hybrid model, dividing working time between home and office, and high-quality office space is one of the important prerequisites for taking care of employees’ wellbeing while at work”, says D. Priede.
The developer of the Gustavs office complex is the Lithuanian real estate company Galio Group, which has a track record of 212,000 m2 completed real estate projects in Lithuania. After careful consideration of potential partners, Galio Development has signed exclusive cooperation agreement with the international real estate consulting company Newsec, operating in seven Baltic and Nordic countries “We were convinced by Newsec’s high professional standards and many years of experience working in the Baltic states,” says Kaspars Beitiņš, Member of the Board of Galio Development in Latvia.

The Gustavs Business Center, which is located next to a strategic traffic node of Riga – the intersection of Brīvības gatve and Gustava Zemgala gatve, is being constructed as both a visually coherent and thought-out office complex with a range of available services. The office building will have a spacious atrium with a transparent, natural light providing ceiling, a restaurant for quick meals, a spacious lobby for meetings, as well as a roof terrace from which to enjoy the city landscape. It is located close to shops, cafes, gyms, cultural events and other benefits of city life.