In Riga, the development of a new format of commercial real estate begins - multifunctional bureaus-offices, as they call - stock-offices. The main advantage for business is that in specialized facilities tenants have the opportunity to concentrate in one place their trading or presentation functions, and the office, and a small warehouse. This “three in one” option allows tenants to get a more attractive price comparing with renting retail space, an office and a warehouse in different places.
Also the stock-offices can be transformed depending on changing needs. When it’s needed large areas are allocated to a showroom, and if necessary a storage area can be increased. Representatives of Colliers International said that six projects of multifunctional bureau offices are being implemented in Latvia, four of which will be ready by the end of 2019. Until 2022, 60,000 m2 of stock-offices are planned in and around Riga. Stock-offices work successfully in Estonia. Just one company Hammerhead has built ten such projects and in the near future is preparing to launch as many. The classic complex of this destination in their performance is like a plot of 6,000-7,000 m2 with a building of 2,000-3,000 m2. Each tenant company gets 150-200 m2 of such a building. Usually tenants use about 70% of the area for retail space or showrooms and offices, the rest - for warehouse, if the object is located in the city centre. The farther to suburb, the share of warehouse space becomes greater.