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Capital Mill to invest 3.3 million euros in RIMI Jeruzalė (Vilnius)

In the beginning of April, Capital Mill, the Estonian capital real estate management company, will undertake major reconstruction of RIMI supermarket situated in Jeruzalė residential neighborhood in Vilnius with 3.3 million euros investment.

Reconstruction contractor – YIT Kausta, one of the biggest construction companies in Lithuania, project author – Projektų rengimo centras, UAB.

“The renovation of commercial buildings in Lithuania stagnates as compared to the significant growth of the office segment. Capital Mill is undertaking its first project of such nature in Lithuania and expects it to point out an increased demand in trading places of new, modern conceptual design. The format of RIMI supermarket will change after the reconstruction; it will expand and become Hyper RIMI. Moreover, 10 new shops and restaurants will be opened in the supermarket, including Hesburger drive – in and Mon Ami bakery with a production on-site shop. Restaurants will have summer terraces; we will also take care of the arrangement of a child and mom room as well as a playground”, – says Marko Kull, a partner of Capital Mill.

Total supermarket area after the reconstruction will be 1.5 times bigger – up to 5247 square meters and RIMI area will increase by one third – up to 4480 square meters.

“Primary requirements of the client are quality, cost effective, and much more convenient premises for shoppers as well as employees. Therefore, we pay close attention to the sustainable development of the building”, – states Kęstutis Vanagas, Manager of YIT Kausta. According to him, the supermarket employees and shoppers will be able to check out new, modern premises already in September – all construction and installation works will be finalized by then.

Reconstruction works of RIMI Jeruzalė supermarket will commence on the 3rd of April and a month later RIMI supermarket will be closed for changeover. Radically reconstructed supermarket will open on the 22nd of September. Electric vehicle (EV) charging station will be installed in a parking lot accommodating over 180 vehicles.

According to Capital Mill, the northern part of Vilnius City is very promising.

“Holidaymakers are attracted by Verkiai Regional Park and people flow bound for Žalieji ežerai extends during the summer season. Furthermore, RIMI Jeruzalė is located near one of Vilnius’ key transport arteries on the way to Santariškių klinikos and back – to the station. There is no doubt that the expanded supermarket with a wider variety of products will become not only a convenient shopping spot, but also a place of attraction for both local residents and guests”, – states Irmantas Degutis, Manager of Capital Mill in Lithuania.

Two logistics centers in Vilnius, one on Metelių Street and another on Žarijų Street, are among Capital Mill’s development projects. Besides RIMI Jeruzalė, the Estonian real estate company also owns the premises of this supermarket on Medeinos Street.

In Lithuania Capital Mill manages Grand Office center, the office center on Ševčenkos Street, and four logistics centers.

Capital Mill have invested 250 million euros in the Baltic countries, of which one fourth goes to the projects in Lithuania. Navigator, the office center in Tallinn, which was the first to be awarded LEED Gold certification for sustainable electricity consumption, is among the exclusive Capital Mill’s projects in the Baltic countries. Explorer, another office building in Tallinn developed by Capital Mill, is considered to be one of the most modern buildings in the Baltic countries. Currently the real estate investment and management company have undertaken the development of 17-storey office building in Riga aspiring after LEED Gold certification as well.

“We see the entire Baltic market as being rapidly evolving and competitive. It is important for Capital Mill to ensure premium quality services catering for both the development of business sector and the local market demand”, – states M. Kull, a partner of Capital Mill.

Capital Mill was founded in early 2008 to help investors looking to acquire commercial real estate in Estonia, Latvia, and Lithuania. The shareholders of the company comprise a team with long-standing real estate and banking experience.