Harju maakond, Tallinn, Kesklinna linnaosa

Investment opportunity in Old Town Tallinn

A rare investment opportunity in the heart of Tallinn historic old town. This iconic building with its timeless architecture and rich history presents a unique canvas for investors seeking for a new project and fare annual return. This first official marks of the building date back to 15th century when the building acted as a center for craftsmen already then the property was a stone house with a stable on the Lai str side. Betwen 16-17th centuries some structural and architectual additions were made. Some of these traces can still be seen. After 1779 the two buildings Lai 20 and Lai 22 were rebuild and separated. The current shape and design took place in 1869 when businessman Fredrich Blumwerk became the owner and major work began. A beamen ceiling has been found from the and its partly exposed in the house today.

Weather you`re looking to revitalize a piece of history or capitalize a commercial space that can be turned in to a residential building with 6 unique luxury apartments, this building is an exceptional find.
The building has been used as an hostel during the past years. Full plans of turning the building back to an residential house with 6 separate apartments exist.
There is also a possibility to continue renting the house to an hotel/ hostel operator