RSU puts historic Palasta iela property on the market

Rīga Stradiņš University (RSU) has begun the process of selling its real estate at Palasta iela 3, Riga. The property is being sold through an ascending-bid auction, which will take place electronically until 13:00 on 5 December.

Photo: Courtesy of RSU

The property is located in the Old Town, in a prime location near Dome Square. It is not registered as an architectural or cultural monument, therefore, there are no restrictions on its use or reconstruction. The 1,037 m² plot of land is fully developed with a four-story building designed by architect Heinrich Carl Emke and constructed in the early 19th century. The building has a total area of over 3,700 m² and has long served as an educational institution.

The sale of the property is part of the university’s long-term development strategy, which provides for efficient resource management and the modernisation of teaching and research infrastructure. RSU is purposefully developing and modernising its academic and administrative environment to create contemporary and comfortable conditions for both students and staff.

The funds obtained from the sale will be invested in the reconstruction of the RSU Sports Centre in Riga at 1 Cigoriņu iela, to develop the university’s sports infrastructure and provide a high-quality environment for sports and physical activities, as well as in the construction of the new Study and Dentistry Centre within the RSU campus at 16 Dzirciema iela.

The initial price of the property in the auction is set at EUR 2.55 million, and its cadastral number is 01000070037. Participation in the auction is possible in accordance with the RSU auction regulations. 

Auctions at RSU (in Latvian)