Pillar Capital Starts Building Logistics Park in Riga Worth Almost EUR 20 million

In June 2020, joint stock company Pillar Capital (previously known as New Hanza Capital, AS) has started construction of A-class warehouse and logistics park in Riga at 462 Maskavas Street. Having invested at least EUR 18.3 million, there is going to be a unified logistics and warehouse park created named A6, offering almost 32,000 m2 of new warehouse space.

On Wednesday, 8 July, a festive ceremony of laying a capsule in the foundation of logistics park took place, attended by Chairman of the Council of Pillar Capital Ernests Bernis, Chairman of the Board of Pillar Capital, Edgars Miļūns, Member of the Board of Pillar Capital Pēteris Guļāns, CEO of Pillar Contractor Jānis Lāčaunieks and Deputy CEO of Pillar Contractor Rūdolfs Legzdiņš.

On the land plot owned by Pillar Capital at Maskavas Street currently there are several warehouses built, most of which were built about 10 years ago. In order to fully use the potential of the property and the available land, there shall be a unified logistics and warehouse park built. After completion of the construction works, the total space of the buildings will exceed 50,000 m2, making this new logistics park one of the biggest in Riga.

 “Construction is one of the essential sectors, which can help recover the economy after downfall. The decision to invest we made exactly amid Covid-19 crisis, because it is important for us to help Latvia recover from the crisis as soon as possible. Naturally, this logistics park is also an important investment object for achieving goals of Pillar Capital to strengthen the position of the company as one of the biggest and most efficient real estate developers in Latvia”, says Edgars Miļūns.

There will be about 20 contractors engaged in building the logistics park at Maskavas Street, while approximately 180 people will be hired for construction works and other jobs on site. The general contractor shall be Pillar Contractor, while design works will be done by Pillar Architekten.

It is estimated to complete construction works by 31 July 2021. The new buildings are going to receive BREEAM certificate, proving their high quality, energy efficiency and compliance with the world standards. These new buildings are going to be the first BREEAM certified warehouse buildings in Latvia.

“When we started planning and designing the buildings, we paid much attention to efficiency and energy efficiency. In cooperation with experts in warehouse storage systems, we designed an unusual step of columns in the buildings, which ensures more efficient placement of shelves, offering more storage capacity in less storage space. We are glad that these modern spaces will be available also to small businesses, because our leasable areas start from 800 m2”, says Pēteris Guļāns.

About logistics park A6: www.a6park.lv

Logistics park is located in Riga at 462 Maskavas Street, which is in direct proximity of A6 highway, 14 km from the city centre and just 4 km from the Riga bypass.

Technological solutions:

  • Increased column step – 17.4 m (the most popular now by now has been 12 m) that ensures optimal use of the premises upon installation of the storage systems of most popular types
  • Free ceiling height: 10.6 m (building A) and 9 m (buildings B and C)
  • Jointless flooring with a maximum floor load capacity of 7 t/m2
  • Hydraulic delivery ramps for building A (can service both trucks and delivery vans)
  • Ramps designed in a way to decrease heat loss
  • Automated modern territory traffic navigation system
  • Sprinkler system
  • Additional parking spaces for the trucks within the territory
  • Electric vehicle charging stations, bicycle parking with a roof and leisure area for employees
  • Comfortable office premises with air conditioning and ventilation
  • Fibre cable internet.

Pillar Capital, AS is a company founded in 2006. The aim of the operation of the company is to invest own and third party funds in commercial properties to ensure consistent increase of capital through increasing lease income and facilitating long-term growth of the property value. The company currently has a list of investments projects in various stages of development of total amount exceeding EUR 150 million, in implementation of which dozens of contractors could be engaged, employing hundreds of people. Implementation of these projects depends on attraction of the necessary investments.