Purchase of Tatari Property

April 25, 2013

Kawe Group’s subsidiary OÜ Tatari Ärimaja acquired the Tatari 1 property in Tallinn, in the immediate vicinity of the Freedom Square. The property sized 2 065 m2 is located in the center of the city behind the Kawe Plaza office building, which is also owned by Kawe Group.

The property consists of two buildings with total area of 1 600 m2. The buildings are used by 8 tenants and current rental contracts will remain in force. Since the property has no detailed plan, such process will be started in the near future.

In the future, the existing buildings would be replaced by a modern energy-efficient office building, which in the light of the promiment location of the property will also have significance in shaping the urban space. Kawe Group’s partner Jaanus Kosemaa stated that the Kawe Plaza office building adds appeal to the already excellent location of the Tatari property and together they could develop into a prestigious commercial building complex. Kosemaa estimates that the future building cannot be too large, but could amount to approx. 10 000 m2. At the moment there seems to be a shortage of office buildings with effective floor area slightly larger than 1 000 m2 in the center of the city. Kosemaa believes that the planned building could meet these criteria.