Baltic International Bank SE sells an exclusive property in Old Riga at the first auction
The administrator of the insolvent Baltic International Bank SE is auctioning the bank's real estate property at 41 Kalēju Street, Riga, together with the furniture, artworks, furnishings, low-value inventory and books in the property.
The real estate at 41 Kalēju Street, Riga, consists of a plot of land with an area of 72 m2, a 5-storey administrative building with a basement with a total area of 268,3 m2. The property also includes exclusive, custom-made furniture, a collection of artworks - both paintings and interior objects, as well as low-value inventory and a collection of books in various fields and copies of books published by the bank. At auction, everything is sold together as an aggregation of property.
This is the first consecutive auction of one of the Bank's most valuable real estate assets.
The property is a tenement house built in 1677 and rebuilt in 1904 to a design by the architect Alexander Schmeling. The property is part of the Historic Centre of Riga, a UNESCO World Heritage site of national importance, and the Old Town Archaeological Complex, an archaeological monument of national importance, and falls within the built-up area of the center of Riga.
In 2013, high-quality restoration and reconstruction work was carried out. The condition of the building's structural elements and interior decoration is excellent. The interior is made up of furniture built in noble wood, and historical interior accents have been preserved in places. The building has a lift and handmade stained-glass windows. The building previously housed the "Cigars" club, which was equipped with a special smoke extraction system.
The valuation and starting bid for the entire property is EUR 1 107 800, including EUR 1.06 million worth of real estate, EUR 20 550 worth of furniture, EUR 17 000 worth of works of art, EUR 8 600 worth of interior furnishings and inventory of little value, and EUR 1 650 worth of books.
The price of real estate (95,69 % of the total price) is not subject to value added tax, while the starting price of movable property (4,31 % of the total price) is subject to value added tax.
The auction will start on 10 January 2025 at 13.00 and end on 10 February 2025 at 13.00.
It is already possible to view the real estate and the movable property therein in person by prior arrangement, by calling 67000444 or by sending an e-mail to info@bib.eu.
You will be able to register for the auction via the electronic auction site E-auction website
List of interior items and books
