In Anticipation of Rail Baltic, Commercial and Industrial Buildings Are Being Built on the Line Already Today
Although Rail Baltic is expected to start operating only in 2026 according to the most optimistic predictions, some developers are considering the position of the planned rail route already today when establishing commercial and industrial premises. At the end of August, construction of the Ringtee Stock was started in the Veneküla area, which is currently scheduled to include a train stop and a third of the nearly 3,400 square metres of the building under construction have already been rented out.
In recent years, Favorte has launched several commercial developments in and around Tallinn from Lasnamäe to Haabersti. Madis Lett, project manager at Ringway Stock, said the logistical accessibility, which is important to all tenants, will be decisive when choosing the company’s location. However, arising from the nature of the business, each company has different needs in terms of logistical connections.
"The logistical position and potential of Ringtee Stock became crucial, so that it can meet a wide variety of logistical requirements - be it heavy trucks or pedestrians. There is an exit for the Tallinn roundabout near the building and one can get there quickly and have a convenient access to other districts and highways. What is more, the commercial building is easily accessible to pedestrians, as the Ülejõe bus stop is just a 7-minute walk away,” explains Lett. The developer says the nearby Väo intersection will be reconstructed in the near future, as also the Rail Baltic Veneküla stop is planned in the area.
"In recent years, we have focused on developing stock-office space and the demand for such type of premises continues to increase. The Ringway Stock is already the sixth that sort of development for Favorte,” said Lett, who asserts there are many reasons why companies are looking for a solution alike. “The key is still being able to move the entire business under one roof and save on logistics, personnel, communications and other ancillary costs. Many customers have adapted their stock-office into a sales and representation space, for example,” pointed out Lett.
The Ringtee Stock will be completed in June 2020. More information may be found on the object's website: http://www.ringteestock.ee/