Latvian Railway sold real estate at an auction

August 25, 2021
Latvian Railway sold real estate at an auction
On 18 August, an auction was organized by representatives of the Latvian Railway. As part of this sale, it was possible for investors to purchase real estate.

On 18 August, an auction was organized by representatives of the Latvian Railway. As part of this sale, it was possible for investors to purchase real estate. The need for this event was caused by a significant decrease in the volume of cargo transportation due to the pandemic. As a result the Latvian railway is going through a crisis period and is forced to use additional business models. One of them was the participation in an auction.

What is offered at the auction?

This time, real estate in Daugavpils was put up for auction, namely, a commercial object consisting of five buildings:

  • pumping stations;
  • transformer stations;
  • technical buildings.

In addition, the lot also includes a large plot of land.

The fee for participation in the auction was 182 euros, and the security deposit was 10% of the initial value of the lot.

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Alexandra Meyer
Personal assistant
Alexandra Meyer
Personal assistant