Loan collateral:
The following property located at Eglių st. 23, Pašilių vil., Riešės mun., Vilniaus d., Lithuania is subject to first-ranking mortgage:
- Land plot of land with the following address: Eglių st. 23, Pašilių vil., Riešės mun., Vilniaus d., Lithuania, area - 0,2444 ha, unique No. 4400-4176-2109, cadastral No. 4117/0300:383 Didžiosios Riešės k.v., use: other, use: territories of one- and two-family residential buildings;
- Land plot with address Pašilių vil., Riešės mun., Vilniaus d., Lithuania, area - 0,0273 ha, unique No. 4400-4176-2452, cadastre No. 4117/0300:383 Didžiosios Riešės k.v, use: other, type of use: separate green areas.
Value of the pledged property: EUR 61 300.
Additional collateral:
- Guarantee (promissory note) of the Company (Borrower);
- Guarantee of the company's manager and shareholder, Mr. Zigmas Bagdonas.
Description of the pledged property
The pledged property consists of two land plots located at Eglių g. 23, Pašilių k., Riešės sen., Vilniaus r. sav., Lithuania: 0,2444 ha of land plot with the following purpose: other, use: territories of one- and two-family residential buildings and 0,0273 ha of land plot with the following purpose: other, use: territories of separate greenery.
The mortgaged property is located in the district of Riešės. The property is located in the Riese municipality in the Vilnius district, north of Vilnius. The municipality has an area of 74 km². There are 45 villages in the territory of the municipality. The centre of the municipality is the village of Didžiosios Riešės. The larger settlements are Pikeliškės, Raudondvaris, Ažulaukės, Jadvygiškės. The district has: Riese St. Bishop Stanislovas Church, Riese St. Faustyna Kovalska Primary School and Riese St. Faustyna Kovalska Primary School. Stanislav Kostka Gymnasium, Pikeliškės Primary Education Department, Eitminiškės Gymnasium, Ažulauke Primary Education Branch, libraries in Pikeliškės and Ažulauke villages, 2 post offices, Riešės Palliative Care and Nursing Hospital, shops, a large supermarket "Link Molėtų", kiosks, restaurants, cafes, bars, rural tourist farms, and active village communities.
The mortgaged property is located in the village of Pašiliai, which is about 19-20 km north of the central part of Vilnius city. Pašiliai is a rural settlement, part of the settlement has old-built houses, the mortgaged property is located in the southern part of the settlement, next to the woods. New residential areas are being built in the area, new detached and semi-detached houses are being constructed. The immediate surroundings are dominated by farmland and woodland. The nearest settlement with a partially developed social infrastructure is Riese, approximately 8 km west of the mortgaged property. The village of Riese has a school, kindergarten, grocery shops. The nearest residential area is Santariškės, about 12 km away.
The mortgaged property is most conveniently accessible from the city of Vilnius by driving along the Molėtų highway, turning into Žirgų street, then turning into Pačtinės street, which gives access to Eglių street. The access roads are asphalted up to Pačtinės Street, the remaining approx. 1.3 km of the road to the mortgaged property is a gravel road. The distance from the central part of Vilnius city is about 19-20 km. The public transport stop (Raudondvaris stop), which is located next to the Molėtai highway, is about 2 km away from the pledged object. The bus stop is served by bus route 132 from Vilnius (Pramogų arena) to Paberžė. Buses run 3-4 times a day. It can be concluded that public transport access is available, but not convenient due to long waiting intervals for public transport and low choice of travel directions.
Factors influencing the mortgaged property:
- Beautiful landscape (nearby forest);
- Expanding neighbourhood - new detached houses are being built in the vicinity;
- Quiet location away from noisy streets;
- Easy access by individual transport;
- Location suitable for residential use;
- Distance to Vilnius city;
- Inconvenient access to public transport;
- Undeveloped social infrastructure in the area (the nearest partial social infrastructure is located in Rieste, about 6.5 km away);
- Unpaved road section of about 1.3 km.
Evaluators' conclusion on the location of the mortgaged property: taking into account the above description of the area, the location of the mortgaged property is considered good.
The land plot is undeveloped, trapezoidal in shape, flat, unfenced, with perennial grass and shrubs. The land is bordered by undeveloped land and an unpaved access road. There is a 0,4 kV underground electricity line next to the plot. There are no other utilities.
In the view of the valuer, the mortgaged land parcels form a complete whole, i.e. an integrated real estate property, and can be disposed of on the open market as a separate property unit. The mortgaged property would be best used for the construction of a single-family or semi-detached dwelling house and no alternative use is appropriate. The most likely potential buyers of the mortgaged property may be legal entities seeking to construct a new building (a residential house) on the land for their own use.
For more information (see Documents).