Nordspace to Combine Modern and Historic in New Business Park

The smart premises business park developer Nordspace has launched its third project in Latvia – Lubānas – located at Lubānas 133A, Riga. The new business park in Pļavnieki will cover a total area of 2,986.6 m² and offer 48 modern, compact, and multifunctional units ranging from 49.5 to 72.8 m², which are suitable for small and medium-sized enterprises as well as individuals. The project is scheduled for completion this autumn, with a planned investment of €4 million.

“This is already our third project in Latvia and the twelfth Nordspace project overall.
We are pleased to see that Latvian entrepreneurs are increasingly recognising the value of the smart space park concept, enabling us to accelerate the development of a Scandinavian-inspired approach and strengthen our market position with an entirely new category of commercial property.The Lubānas business park will serve as a strong example of how to preserve the historical charm and identity of an industrial area while creating new, functional infrastructure that meets the needs of modern businesses,” says Linas Kliukas, co-founder of Nordspace.

The units in the new business park will be suitable for a variety of business sectors. Experience from other Nordspace parks – Saliena and Jūrkalne – has shown a diverse mix of tenants, including repair workshops, metalworking companies, e-commerce businesses, print service providers, food storage firms, hobby workshops, and CrossFit studio.

Nordspace Latvia representative Artūrs Ozoliņš adds: “In response to the growing demand and the needs of young entrepreneurs, we will soon be offering even greater opportunities for space rental with modern, well-organised infrastructure in the Riga area.  The rental space on offer will be modern, technologically equipped, compact and flexible, with transparent, affordable and, most importantly, controllable costs. Business park Lubānas will also introduce several new features, including skylights to provide natural lighting, and exterior enhancements to improve the visual quality of the infrastructure.”

Business park Lubānas will be strategically located with convenient access to the city centre and key logistics and commercial corridors, including Krasta and Juglas streets. The park will also be situated close to several residential districts, such as Pļavnieki, Purvciems and Dreiliņi, ensuring good accessibility via public transport, which is a significant advantage for both tenants and their clients.

A distinctive added value to the park is the historic water tower located on the site. Built in 1957 to support the Pļavnieki district’s water supply, the tower has been preserved as a cultural and historical feature. While currently closed to visitors, Nordspace envisions giving the tower a new and innovative purpose — by transforming it into something new and meaningful through a creative partnership. The company is currently open to proposals from potential partners, entrepreneurs, or investors. The goal is to ensure the tower integrates organically into the park environment and becomes an added value for its visitors.

About Nordspace

Based in Lithuania, Nordspace is a developer of smart permises business parks. By the end of 2025, the company aims to have developed 20 parks across five cities in Latvia, Lithuania, and Poland, covering a total of 60,000 m². Nordspace business parks stand out for their compact, customisable units equipped with smart management solutions, high security standards, and efficient administration. These functional smart units – or “boxes” – are designed to meet the needs of diverse business types and hobbies, offering flexible, technology-driven solutions for today’s entrepreneurs.