A state-owned company in Lithuania has launched a search for an intermediary to oversee the sale of a significant nine-story building located on J. Janonio street in Klaipėda. The decision comes after the company announced the procurement of services for organizing the sale through a market consultation released in early February. The chosen intermediary will be contracted for three years or until the property is sold, with their payment largely contingent on the success of the sale, measured by how quickly a buyer can be found and at what price.

The building, constructed in 1980 for the then-Lithuanian Maritime Shipping Administration, requires substantial renovations according to recent assessments. As part of the selling process, the starting price for the auction will be determined based on property valuation, although this initial price has not yet been disclosed. The state intends to auction the property, aiming to attract potential buyers while ensuring all necessary legal and economic conditions are met during the sale process.

This sale reflects the Lithuanian government's ongoing strategy to manage and potentially offload underperforming or costly state assets. The nine-story building's renovation needs indicate a significant initial investment required for any new owner, presenting both challenges and opportunities in the competitive real estate market of Klaipėda.