New Volvo and Renault show-rooms and service centers in BABILONAS (LT)

Sostena auto UAB will open new Volvo and Renault show-rooms and service centers in Babilonas at the end of March 2009. Re&Solution was representing Ogmios Real Estate and intermediated in leasing these over 1,200-m² premises, which were built according to the needs and specifications of the tenant. This is one of a kind built-to-suit type of transactions in Lithuanian automobile market.

"It is the best example that despite the dismal moods in real estate market, lease transactions are moving forward not only in the capital but in secondary cities as well," says Giedrius Ragaiðis, Head of Sales Department at Re&Solution.

Sostena auto is one of the biggest car sale, lease and rental companies in Lithuania. Sostena auto is an official representative of Jaguar, Land Rover, Volvo, Renault and Dacia car brands in Lithuania, having show-rooms in Vilnius, Kaunas, Klaipëda, Ðiauliai and, from now on, in Panevezys. "Expansion to Panevezys was not accidental – despite the global economic crisis we appreciate the opportunity to take over the market in a very perspective spot," explained Donetas Karèiauskas, President of Sostena auto UAB.

On an 80 ha land plot there have already been developed two shopping and entertainment centers, the only skating rink in Panevezys, a home improvement, garden equipment and construction material store Bauhof, a Technical Service Center, Kesko Agro Lithuania. Besides that, the development of the third shopping center Babilonas, a construction appliances and vehicle center STOKKER, Sanitex ‚Cash & Carry' have already started. Also, soon will start the constructions of PK Orlen gas station. Residential area is also planned to be developed here.

Babilonas – not only the city of trade but entertainment and culture as well. It is being developed so we could both have a great time and live comfortably," Jûratë Nekrosovienë, Ogmios Real Estate Marketing Manager, describes the implementation of ‚A City within the City' concept.

As a winner of 2008 Euromoney Liquid Real Estate Awards, Re&Solution have already leased over 3,000 m² and brought such both international and local brands as Lindex, Deichmann, Kenvelo, Elegantline and others in Babilonas project.

Source: Re&Solution

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