In spring 2019, the first co-working area SPACES will settle in the Business Center LIVE SQUARE. EIKA and IWG that manages the conception and brand SPACES have signed a tenancy agreement for renting an area somewhat bigger than 1500 sq. m. Following this agreement, it was agreed upon 66% of the area rental in LIVE SQUARE.
Establishment of the co-working area SPACES in a complex strengthens the vision of LIVE SQUARE which reveals the trends in the contemporary world and where open and innovative people can gather together. According to Domas Dargis, EIKA Director General, the emergence of the co-working area SPACES, a rapidly growing collaborative space in the world, is a significant event in the Lithuanian office market which is also promptly responding to changing customer needs and global trends. “SPACES is a new approach to work in collaboration-based offices, and it is a great honour and success for us to create such a space in EIKA-developed project for the first time in Lithuania,” says D. Dargis.
According to Jekaterina Kosmačiova, Head of IWG for the Baltic States, SPACES change the usual work environment which allows business people to feel like home. “This environment provides a sense of comfort and relaxation, and all the necessary tools therein help to carry out work quickly and efficiently. Working in such a space helps to connect not only with similar people but also with the experts of various fields”, J. Kosmačiova presents the future vision of cooperation.
The SPACES concept reveals a number of aspects, such as an excellent layout and design of the premises that combines global trends with local tastes; another way of thinking – the office does not focus only on square meters since it is created for people; special attention is paid to hospitality and space management is based on the technology.
In the next 6 months, there will be nearly 100 SPACES in the world. This impressive growth reveals the need and popularity of the new concept around the world. “Our and EIKA visions are the same because we alike believe that the combination of the real estate and technology is the future of the real estate market. I am convinced that together we will offer spaces for the business that will be completely different from those currently existing on the Lithuanian market. They will be cosy, inspirational and elegant, and nevertheless affordable,” IWG spokeswoman evaluates the cooperation with EIKA.
Newsec represents the development of the IWG network in Lithuania and has helped the company find the most suitable location for the collaboration SPACES. “The decision to establish the first SPACES in the LIVE SQUARE project carried out in Vilnius was based on the excellent location and visibility of the building, a comfortable and flexible structure of the floors and the neighbourhood of the hotel Hilton. Another significant element of the agreement is smooth negotiations with EIKA which executives immediately understood the value of such a tenant for the project, and, in pursuit of the synergies between a complex multifunction and purposes, made a decision to create an actual collaborative space in the building and thus open the building to an even wider audience of consumers,” says Martynas Babilas, Newsec Head of the Group of Solutions for Tenants in the Baltic region.
In addition to the first LIVE SQUARE tenant – law firm Sorainen – which was first published at the beginning of the summer, tenancy agreements have been signed also for a part of the premises on the first floor where a coffee bar, a flower shop, a luxury watch salon, and a pharmacy will be located. At the moment, negotiations on the premises of a restaurant that will stand out by its modern style and with other potential tenants who will help to create a constantly pulsating and vibrant city take place. About 2000 sq. m. of the commercial and office space has remained unrented.
About LIVE SQUARE
– LIVE SQUARE will invite city residents not only to live and work but also to enjoy meaningful leisure. There will be a restaurant, resting areas on the roof surrounded by green plants and a spacious outdoor terrace overlooking Gediminas Avenue, Lukiškės Square and Tauras Hill surroundings.
– Down the terrace, people will be able to visit the shopping gallery in the business centre and take a walk in the square where the fountain will be installed and recreational areas will be created for the citizens.
– A modern business centre with commercial premises will occupy the area of 6,800 sq. m., and a residential building with 88 apartments and balconies and terraces will take 4,700 sq. m. of the area.
– City guests will be able to stay at the four-star hotel Hilton Garden Inn which will have 164 rooms meeting international Hilton brand standards. The hotel will have a gym and a restaurant with an outdoor terrace, as well as 300 sq. m. conference centre. The total area of the hotel will be 7,000 sq. m.
– The total area of the complex will be about 18,000 sq. m. and its value will amount to nearly 49 million euros. The project is being carried out by EIKA and the architectural part is being developed by the group of architects Unitectus. It is planned that LIVE SQUARE space will be open in spring 2019.
– The name LIVE SQUARE contains several important elements. The word “live” means “here and now” and “square” refers to the openness and dynamism that should revive today’s slightly drowsy part of Gediminas Avenue at Lukiškės Square.
About EIKA Group of Companies
EIKA, established in 1992, is one of the largest real estate development and construction company groups in Lithuania which successfully develops residential, commercial, public and other types of building projects. The company has already built nearly 4,000 apartments and 320,000 sq. m. of buildings. EIKA has been rewarded many times as the best real estate developer in Lithuania, the best company projects in Lithuania are “Santariškių namai”, “Basanavičiaus 9A” and “Eika namai Pilaitėje”.