Apranga APB has signed an agreement on sale of Kirtimu Street property

On 3 August 2017, Apranga APB has signed with Ogmios pulsas UAB an agreement on the sale of office and warehouse premises and other assets located in Kirtimu str. 51 in Vilnius. The value of the transaction of the sale of assets totalled EUR 6.05 million (including VAT). The transaction will have a positive impact of approximately EUR 3.4 million on results of year 2017.

“The company is located in Kirtimu str. 51 for almost 50 years, since 1970. We have been growing rapidly over the past few decades, expanding our network in three countries, with a great deal of technological change that has an impact on everyday activities. With a growing team of employees, we have come up with a new, modern and high-standard office and logistics center in order to offer the best possible work conditions. We focused on analysing international experience, interested in innovations and the latest technological solutions in the process of designing. We hope, that will not only facilitate the daily work processes of our employees, but also contribute to the creation of their welfare in the workplace and ensure optimal speed and product movement in all three Baltic States”, - Rimantas Perveneckas, the General Director of Apranga Group, said.

Apranga Group will lease the new complex, which will provide 15 400 square metres of space. According to plans nearly 200 employees will settle in the new premises in the first half of 2018. The complex of buildings will consist of one-three storey buildings, which will stand out with unique architecture, the highest technical requirements and energy efficiency.

The new Apranga Group administrative complex is developed by MG Valda, one of the largest real estate management and development companies in Lithuania.

Apranga APB temporarily will lease complex of buildings in Kirtimu str. 51 from a new owner Ogmios pulsas UAB till the new headquarters will be built and equipped.