The former headquarters of Eesti Energia received a new life and function under the management of Scandium Real Estate at Laki 24 in Mustamäe, Tallinn. Compact one and two-room rental apartments were built in the four-storey building LAAVA Apartments.
The peculiarity of LAAVA Apartments is the small apartments of 12-20 square meters. Rental apartments were purchased in the house by real estate investors who valued the features characteristic to a rental building such as apartments with a compact layout, washing machine room, meters with remote reading, and smart locks. By the time the house is completed, 85% of the apartments in the house have been sold.
“We bought the house from Eften a year ago. Although the house was in good condition, extensive construction work had to be done to convert it into a comfortable rental house. As typical of Scandium, we also gave the house a new name and image. On the front facade of the house, you can see the façade lighting mimicking lava stripes that are characteristic of the name, and the interior elements refer to the name inside the house,” said Maido Lüiste, Partner and CEO of Scandium Real Estate, when opening the rental house.
Kalle Aron, Partner and Development Manager at Scandium Real Estate, added that the concept of a rental house is increasingly well-known in Estonia. “Our team is constantly working to improve the concept, making apartment planning more efficient and comfortable. LAAVA Apartments is a prime example of a classic rental house that maximizes comfort of the tenants as well as a good return for the investors,” said Aron.
Continue reading HERE