Urban HUB stock-office development: construction also starts in Vilnius District
Vilnius District Municipality has granted permission for construction work to start on a stock-office campus being developed by SBA Urban near Ukmergės Street. The conceptual 22,000 sqm project combining office, warehouse and retail space will go up in less than a year, with the first tenants moving in by the middle of next year. The investment in the project will amount to around EUR 30 million.
Dozens of businesses in a strategic location
“We will strive to make the project, which is being developed in Vilnius district, a prominent part of the emerging business community in the direction of Ukmergė. Around 30 different businesses will be located in a strategic location in spaces of exceptional architecture. Currently, some of the largest grocery chains, sports clubs, cafes, and world-famous speciality brands are actively interested in locating here and servicing their customers – a wide range of services that will be closer to the residents,” says Giedrius Muliuolis, the head of the Urban HUB.
According to him, in this economic environment, businesses are looking for flexibility and the most efficient solutions so that the project will be developed very quickly. The first tenants are expected to start operating in the business city in the second quarter of next year.
Robert Duchnevič, Mayor of Vilnius District Municipality, who has granted the building permit, says the new project will bring additional opportunities to the fast-growing Vilnius District.
“The commercial city on Ožiarūčių Street will create new jobs, expand the district’s important infrastructure, and, I believe, contribute to the even faster development of not only this part of the district but also of the whole of Vilnius District. It will be an opportunity for businesses to set up and expand in new, modern spaces. I am pleased that the residents of Avižieniai will be able to use the mentioned above facilities close to their homes. As the head of the municipality, I will make sure that the works are carried out according to the principles of sustainable development and respect for the environment and the community. I am confident that the SBA Urban and Urban HUB team will implement the project in a quality and expeditious manner,” says Mayor R. Duchnevič.
One-third of the space is reserved
The stock-office premises stand out in the market for the wide range of possibilities to adapt them for different businesses. While such spaces are usually divided into three parts – office, warehouse and exposition spaces – large projects have the freedom to combine more flexibly. Offices only with warehouse or only with retail, retail only with warehouse.
Experts also note that in this economic environment, businesses particularly value the opportunity to design spaces that are the most efficient for their operations and plan their work individually without having to conform to the general rhythm of a shopping centre or a town. For example, each business in a commercial campus chooses its own working hours, the microclimate best suited to its employees and goods, and can manage costs more easily.
According to Mr Muliuolis, it is for these reasons that almost a third of the total number of spaces available in the Urban HUB campus are already reserved.
In fact, Urban HUB is already divided into three categories of customers. On the most visible side of Ukmergė Street, a block of daily shopping and service businesses is being formed. Here, residents will be able to shop for food, home and garden, household and pet goods, and there are plans to add a pharmacy, a children’s store, a playroom and beauty salons. On the other side will be business services and specialised companies, for which a stock-office type solution combining office, warehouse and retail space is the most suitable. Finally, the third zone is for sports and wellness. Tennis courts, a sports club and other facilities are planned.
At the same time, construction work on the first phase of the 70,000 sqm township being developed in Biruliškės, Kaunas district, is progressing rapidly. The first tenants will move in by mid-2024. At the end of the year, the newest 1,700 sqm IKI shopping centre operated by Iki Lietuva will open its doors. The Urban HUB projects in Vilnius and Kaunas have been developed together with the Danish architectural studio PLH Arkitekter.