Lithuanian Academy of Music and Theater building sold for €1.9m

by   CIJ Baltics
2018-12-11   10:50

The Lithuanian Academy of Music and Theater has sold its main building in Vilnius for €1.9m. The building, which is located at Gedimino avenue 39 in the capital was sold at auction. The listed historical monument will require significant renovation and investment. Although the local investor who brought the building was not disclosed, but it has acquired a centrally located administrative building with more than 1400 sqm of office space. The academy will move to a new, purpose built campus on Olandu street next to Kalnu park in 2021. The cost of the new building is said to be approximately €29m.