The State Real Estate Management (VNĪ) in Latvia will hold another auction for a building on Brīvības Street in Rīga where the store 'Santa un Barbara' is located. The auction will start on March 18 and conclude on April 17, 2024, with a starting price of 1.36 million euros and increment bids of 10,000 euros. The property consists of a land plot of 5,408 square meters, a two-story building for the store, and two warehouse buildings along with paved areas.

This upcoming auction follows a previous attempt to sell the property which ended on July 8, 2024, with an initial starting price of 1.7 million euros. Subsequent auctions lowered the starting price to 1.53 million euros and then to 1.475 million euros. The repeated auctions reflect a challenge in selling the property at previously set values, suggesting a need for further assessment of the market conditions or the property's desirability.

The store 'Santa un Barbara' operates under the ownership of SIA 'Javis', a company registered in 1994 with a share capital of 28,400 euros, owned solely by Vadims Vlasovs. The implications of the auction may affect local business dynamics in the Brīvības Street area, considering the store’s ongoing operations and its significance to the local retail landscape.