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Construction of the fourth business center, as well as the entire office complex, in the S7 business park developed by Galio Group, which lasted almost five years in the former industrial territory of Vilnius Žvėrynas, has been completed. This is the largest and most advanced project implemented by Galio Group.
“Our partners, the general construction contractor Mitnija, completed construction 4 months ahead of the contract. This is an important event for all of us, because every building in this complex is complex, built in accordance with international sustainability standards. very high and implementing solutions that have not been used before in the Lithuanian market ”, says Aurimas Martinkėnas, Director of Commercial Projects of the Galio Group.
The development of the S7 office park started in 2016. on the site of a former bakery. The project was implemented in stages, three business centers have already become home to Danske Bank and Telia Lietuva. Danske Bank will also be located in the fourth building – the lease for this business center was signed in 2019.
Construction work was planned with minimal precision
“We have been together with Galio Group for five years, from the first stage of construction of the S7. During this time, we got to know our client, his work style, expectations and requirements. Therefore, during the construction of the second, third and fourth stage of the project, we understood each other in a half word, the work went smoothly and efficiently. A long-term partnership is definitely beneficial for both the client and the construction company because it saves time and money, says Nerijus Sabonis, manager of Mitnija projects – In addition, despite the tensions caused by the pandemic, our client and the building’s tenant, as well as our business partners – designers, subcontractors, suppliers – showed strong motivation to complete the project on time. We fell in love with this project, so the work went smoothly and with a smile ”.
N. Sabonis also states that during the construction of the fourth stage of the project, there was no storage space on the plot, only one lane of Pieninės Street was allowed to be completely closed, so a lot of installation work was carried out “from the wheels “.
“Both during the construction and during the installation of the Danske Bank facilities, the biggest challenge was to plan all construction processes, supply logistics and accurately and professionally manage the work of more than 80 subcontractors and suppliers with precision, sometimes with minimal precision. I’m proud that we did a great job, ”says N. Sabonis.
The total area of the office park designed by Arrow, Archinova and Eventus Pro is approximately 104 thousand. kv. meter. Investments in the project exceeded 100 million. euros. The four business centers in the S7 office park have been designed and built in accordance with the international standard for sustainable construction BREEAM, achieving the BREEAM New Construction Excellent certificate, one of the highest ratings on the BREEAM scale, than the S7 project was the first to receive in Lithuania.
“We will have the last point when we install the fourth business center of the complex and deliver it to the tenant. However, we have completed the most difficult stage: by developing this project, we have grown as a company and acquired invaluable experience ”, says A. Martinkėnas.
The year was successful in the commercial real estate segment
According to A. Martinkėnas, last year the company was successful in the commercial real estate (RE) segment: the sale of three complex S7 business centers was completed with the Swedish investment company Eastnine, Galio Group signed an agreement with the chain French sporting goods retailer Decathlon Due to the construction and leasing of a store in Klaipėda, as well as the construction and leasing of the Wave business center at the beginning of Vilnius Savanorių Avenue was completed.
“At the end of the year, we signed two more agreements for the lease of premises in the Wave business center: the companies Orlen Lietuva and Omniva rented approximately 1,000 m2. M. About 5% of the empty premises remained in Naujamiestis in this center of businesses – as much as is necessary for a tenant or to meet the development needs of existing tenants, ”says A. Martinkėnas.
Last year, Galio Group started and halved the construction of the Freedom 36 business center on Vilnius Laisvės Avenue: it will offer 14,000 m2 M. m of modern office space.
“At the end of the year negotiations on the lease of offices in the Freedom 36 business center intensified. This was mainly due to the incoming and smooth construction works. Businesses have become more cautious, we see that tenants are more relaxed to negotiate premises when the completion of the building is greater – currently it is around 40 percent. Just before the end of the year we signed a lease with Practical Medicine, and this month we plan to sign three more lease contracts with companies in the health and logistics sector ”, says A. Martinkėnas.
