Aurochs | Facts
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Company - “Aurochs investments”

Goal & Conceptual framework

Having an extremely unique and convenient land plot location in Vilnius, Lithuania, in order to get the most efficient synergic effect in terms of future revenues and risk management, the company intends to build commercial property that joins:

  • Hotel building which contains min. 120 rooms;
  • Commercial office building in which potential tenants could be banking branches, lawyer companies, companies searching for some kind of uniqueness of recognition on the Vilnius RE market;
  • Total building area from 7000 – 7500 sq.m.;
  • The building will be split in two parts with a pedestrian promenade in between.

Today’s Situation and further steps

  • Archaeological research has been carried out. A positive answer has been received;
  • The architectural concept tenders with 3 Architect companies to be finished in December 2015;
  • Department of Cultural Heritage under the Ministry of Culture opine that the foundation of the existing building is not an object of cultural heritage;
  • Design process and permission for construction – 2016 Q3;
  • Construction process and commissioning 2016 Q3 – 2017 Q3.

For potential Business partners

  • The Company – “Aurochs investments” is searching for an international hotel brand operator;
  • The aim is a step towards long-term partnership – to conclude management agreement of the hotel and to build the hotel according to hotel operator requirements;
  • Land plot location suitable for 3 or 4 star hotel;
  • Lithuanian economical situation, EU integration, common EU currency and stable increase of tourist and business visitors flow shows this is the right time for RE development and hotel business expansion.

Lithuanian macro analysis

  • At the end of the first half of 2015 Lithuanian airports estimate that the flow of passengers in Vilnius, Kaunas and Palanga, compared to the same 2014 period increased by more than 10 percent.
  • During the first six months of 2015, Vilnius airport served over 1.9 million passengers. Last year at the same time the flow of passengers was 1.7 million.
  • According to Department of Statistics, 2015 January – September in Vilnius collective accommodations received 753,387 visitors who spent 1,409,453 nights. Compared with the same period of 2014, the number of guests increased by 6 %, the number of nights – 4.5 %.
  • 83 percent of arriving guests (623,877) in Vilnius accommodation were foreigners. The majority of visitors came from Germany, Poland, Russia, Latvia and Belarus. Visitors from these countries accounted for 48.3 % of all foreign tourists. The rest of the visitors are from the United Kingdom, Italy, Norway, Ukraine and the United States.