Announcement on the sale through competitive bidding of the real estate located in Riga, at 20A Ernesta Birznieka-Upīša Street, owned by SIA LANORA – a PNB Banka group company


The insolvency process administrator of the insolvent AS PNB Banka, registration No 40003072918 (hereinafter – “the Bank”), Vigo Krastiņš, and SIA LANORA, registration No 40103214316 (hereinafter – “SIA LANORA”), in cooperation with SIA Latio, registration No 41703000843 (hereinafter – “Latio”), hereby announce the sale in a voluntary competitive bidding of the real estate owned by SIA LANORA, located in Riga, at 20A Ernesta Birznieka-Upīša Street, cadastral No 01000310106 (hereinafter – “the Real Estate”). The Real Estate is a land plot with a total area of 1126 m2 with a cadastral designation 0100 031 0106, and put in place administrative-residential complex on the said land plot (cadastral designation 0100 031 0106 003).

Currently, the building is leased for office and retail functions. Yield rate 8% per year for 2020 at 87% building occupancy. The current occupancy of the building is 76%.

The mortgage lender – the Bank.

The appraised value and starting price of the Real Estate – 3 300 000 EUR..

The competitive bidding price is exempt from the value added tax.

Application deadline –10.12.2021, 05:00 PM.


To arrange for examination of the Real Estate and find out more information about it, please call Latio at +371 67032300 on business days from 9:00 AM to 5:00 PM.

Information on applying for the competitive bidding, the competitive bidding procedure, conditions for closing transactions and other relevant information is provided in the competitive bidding regulations (hereinafter – “the Regulations”) available free of charge on the Bank’s website or Latio’s website For more information on the Regulations please call +371 29415520.


All persons willing to participate in the competitive bidding should complete the following:

- by December 10, 2021, 05:00 PM, attend an on-site identification at the Bank’s office, submit the application form filled out in compliance with the Regulations, as well as all other documents indicated therein;

- by December 10, 2021, 11:59 PM, transfer the participation fee of EUR 121, incl. VAT – EUR 21, and the deposit of 330 000 EUR, i.e. 10% of the starting price, to the Bank account No LV69BLIB1001005254003 opened with Baltic International Bank SE.


The application for participation in the competitive bidding and the documents attached thereto shall be submitted at the Bank’s office in Riga, 15-2 Elizabetes Street (Latvian: Elizabetes iela 15-2), on business days from 09:00 AM to 05:00 PM, or sent via e-mail to in the form of an electronic document duly signed with a secure electronic signature and containing a time stamp.