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PROJECTS › Vilnius Office Park

The first office park in Lithuania - Vilnius Office Park

Verdispar, on behalf of Scandinavian investors, is creating the first office park in Lithuania − Vilnius Office Park. Based on concepts and experience from office parks in other countries, it will be located in the northwest part of Vilnius, on Ukmerges Road, next to the Vilnius-Panevezys highway.

Five seven-story Scandinavian style buildings, each 7-8,000 sq. m (75-86,000 sq. ft.) in size, will emerge on a more than 2 ha (5 acre) lot. Verdispar will offer tenants a total of some 36,000 sq. m (388,000 sq. ft.) of space in Vilnius Office Park. Construction of the first phase is scheaduled for the first half of 2009; the entire office park should be fully developed in two or three years.

New office vision in Lithuania
The concept of Vilnius Office Park was developed by Verdispar together with the financial and property consultancy company Re&Solution. The project architect is Vilniaus Architekturos Studija.

The project was started because in cities all over the world, large and medium-sized enterprises often prefer office parks located on the outskirts of cities. Verdispar and market experts believe the Vilnius property market is ready for its first office park. This kind of commercial property is still new in Lithuania, but very popular in Scandinavia, elsewhere in Western Europe and the United States. Office parks usually attract companies in telecommunications, IT and services whose businesses don’t require expensive office premises in the city center. Another important benefit for prospective tenants is the opportunity to plan their office space more flexibly − a large enterprise can occupy a half or whole building, medium-sized enterprises one or a few floors of a building. Individual floors will reach about 1,000 sq. m (10,800 sq. ft.).

Rationality and flexibility
Lithuanian real estate experts believe that office parks outside city centers will become increasingly popular in the country. Even during rush hours, two thirds of Vilnius office employees live within 15 minutes of Vilnius Office Park. Easy accessibility, the opportunity to reduce expenses and the good visibility of the buildings and company logos from Ukmerges Road will increase tenants’ public identity. Working in a scenic, tidy and friendly environment will also motivate employees.

Another very important benefit of Vilnius Office Park is flexible planning of office space, expansion potential for tenants and office leasing costs will be attractive to managers planning the growth of their company. Vilnius Office Park will enable them to significantly reduce costs.

Convenient accessibility
Vilnius Office Park will be easily accessible from every part of Vilnius. Employees going to work or home during rush hours will avoid traffic jams, since in most cases they will be traveling in the opposite direction. The adjoining Vilnius-Panevezys highway will ensure good access to Northern Lithuania and to Riga, Latvia. The future Vilnius Western Bypass will allow easy access to Kaunas, Western Lithuania and Warsaw, Poland.

Exceptional environment
Attention to employees’ environmental and social requirements is often insufficient in city centers, mainly due to lack of space. At Vilnius Office Park, Verdispar will focus on a comfortable, friendly working environment, recreational facilities, natural landscaping and meeting the social needs of employees. Restaurants, cafes, a laundry and a sports club will be established at Vilnius Office Park. The roof of each building will offer saunas and open-air terraces. There will be open air basketball courts and a fountain. Landscaping of the natural environment − trees, lawns and walking paths − will make the surroundings attractive.

Behind the Office Park, at some distance from Ukmerges Road, ScandiPark, a new residential neighborhood based on Scandinavian concepts will emerge. It is also being developed by Verdispar on behalf of Scandinavian investors.

For more information, please visit the Vilnius Office Parks website: www.vop.lt