LIVE SQUARE business center will host the first SPACES co-working space in Lithuania in the spring of 2019. EIKA and IWG, which manages the SPACES concept and brand, signed a lease agreement for the premises, under which it was agreed to lease a little more than 1,500 sq. m. of space. Following this agreement, LIVE SQUARE has already agreed to lease 66 percent of the space..
The establishment of the SPACES co-working space in the complex reinforces the vision created by LIVE SQUARE, where the trends of the modern world unfold and open and innovative people gather. According to EIKA CEO Domas Dargis, the emergence of the SPACES co-working space, which is rapidly gaining popularity in the world, in the complex is a significant event in the Lithuanian office market, which also rapidly responds to changing customer needs and global trends. “SPACES is a new approach to working in collaborative offices, and for us it is a great honor and success to be the first in Lithuania to create such a space in a project developed by EIKA,” says D. Dargis.
According to Ekaterina Kosmačova, Head of IWG in the Baltics, SPACES replaces the usual work environment, which allows business people to feel at home. “This environment gives a feeling of comfort and relaxation, and all the necessary tools in it help to get work done quickly and efficiently. Working in such a space helps to establish relationships not only with similar people, but also with experts in various fields,” – J. Kosmačova presents the future vision of collaboration.
The SPACES concept reveals several aspects: excellent room layout and design that combines global trends with local tastes; different thinking – the office is not focused only on square meters, it is created for people; special attention to hospitality, and space management is based on technology.
In the next 6 months, there will be almost 100 SPACES spaces in the world. This is an impressive growth, revealing the need and popularity of the new concept worldwide. “Our visions and EIKA coincide, because we equally believe that the combination of real estate and technology is the future of the real estate market. I am convinced that together we will offer spaces for business that will be completely different from those currently available on the Lithuanian market. They will be cozy, inspiring and elegant, but at the same time accessible,” – says the IWG representative about the cooperation with EIKA.
Newsec represents the development of the IWG network in Lithuania and helped the company in its search for the most suitable location for the SPACES co-working space. “The decision to establish the first SPACES in Vilnius in the LIVE SQUARE project was determined by the building’s excellent location and visibility, convenient and flexible floor structure, and the proximity of the Hilton hotel. Another important element of the agreement was the smooth negotiation dialogue with EIKA, whose managers immediately understood the value of such a tenant for the project and, in pursuit of the multifunctionality and synergy of the complex’s purposes, decided to create a relevant co-working space in the building, thus opening the building to an even wider audience of users,” says Martynas Babilas, Head of Newsec’s Tenant Solutions Group in the Baltics.
In addition to the first LIVE SQUARE tenant announced at the beginning of the summer – the law firm “Sorainen” – lease agreements have been signed for part of the first floor premises, where a coffee bar, a flower salon, a luxury watch salon, and a pharmacy will be located. Negotiations are currently underway for premises for a restaurant, which will stand out with its modern style, and other potential tenants who will help create a constantly pulsating and lively space in the city. About 2,000 sq. m. of retail and office space remain unleased.
About LIVE SQUARE
– LIVE SQUARE will invite citizens not only to live, work, but also to spend their free time meaningfully. There will be a restaurant here, a rooftop recreation area surrounded by living and green plants, and a spacious outdoor terrace, which will offer a view of Gedimino Avenue, Lukiškės Square, and the surroundings of Taurus Mountain.
– After descending from the terrace, it will be possible to visit the shopping gallery operating in the business center and take a walk in the square, where a fountain will be installed and recreation areas will be created for citizens.
– A modern business center with retail premises will occupy 6.8 thousand sq. m, and a residential building, which will house 88 apartments with balconies and terraces, will occupy 4.7 thousand sq. m.
– City guests will be able to stay at the four-star Hilton Garden Inn hotel, which has 164 rooms planned that will meet the international standard of the Hilton brand. The hotel will feature a gym, a restaurant with an outdoor terrace, and a 300 sq. m. conference center. The total area of the hotel will reach 7 thousand sq. m.
– The total area of the complex will be about 18 thousand sq. m, and the value is about 49 million euros. The project is being implemented by EIKA, and the architectural part is being developed by the architectural group Unitectus. It is planned that the LIVE SQUARE space will be opened in the spring of 2019.
– The name LIVE SQUARE contains several important elements. The word “live” means life “here and now”, and “square” refers to the openness and dynamism that should revive the somewhat sleepy part of Gediminas Avenue near Lukiškės Square.
About the EIKA group of companies
Founded in 1992, EIKA is one of the largest real estate development and construction groups in Lithuania, successfully developing residential, commercial, public and other building projects. The company has already built almost 4,000 apartments and 320 thousand square meters of buildings. EIKA has been awarded many times as the best real estate developer in Lithuania, the company’s projects “Santariškių namai”, Basanavičiaus 9A and “Eika namai Pilaitė” have become the best in Lithuania.