Jaunā Teika

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Jaunā Teika is Rīga's decentralised A-class value play: 59,000 m² across four BREEAM-certified buildings on Gustava Zemgala gatve, 10–15 minutes from the centre, with the Austrumu maģistrāle terminating at its doorstep. Asking rents are €11–13/m²/month plus a €2.50/m² service charge — well under central Class A, and under its own newer neighbour Gustavs.

Jaunā Teika is an office quarter, not an official Rīga neighbourhood. It sits inside the Teika apkaime on Gustava Zemgala gatve, behind the VEF Culture Palace, and is marketed as part of the VEFRESH tech district. Seven hectares, four office buildings, 59,000 m² of leasable space and 1,102 parking spaces, built on former industrial land over roughly a decade for more than €140 million.

The buildings are Valters (2009, 12,500 m², class B1), Ausma (2017, 14,500 m²), Teodors (2018, 14,500 m²) and Henrihs (2020, 17,500 m²) — the last three Class A, and all four BREEAM certified. Around fifty occupiers have been based across the quarter, among them Accenture, Siemens, Tetra Pak, Zabbix, TietoEvry, Bigbank, Intrum, Gjensidige, BTA, EPAM and Alstom, with Teikums running coworking on site. In April 2024 Tech Mahindra took 3,635 m² for about 500 staff — the largest office deal in the Baltic market that year, and proof the quarter still wins international occupiers.

Developer Hanner sold the offices to EfTEN Real Estate Fund 4 in 2021 for €131 million, the largest office transaction in Latvian history at the time; EfTEN Capital Latvia has since moved its own office in. The quarter itself is finished. The growth on this street has moved next door to Gustavs — GALIO's 41,000 m² scheme on the former Fēnikss, Vairogs and RVR factory land, whose first building opened in March 2023 with SEB Global Services as anchor on some 11,000 m², and whose second building is due in 2027.

The accessibility case improved sharply in December 2023, when the €74.9 million Austrumu maģistrāle opened and terminated at the Ūnijas iela / Gustava Zemgala gatve junction — on the quarter's doorstep. The city centre is 10–15 minutes by car and the airport about 30.

Gustava Zemgala gatve is the address, running 5,381 m from Dzelzavas iela to Viestura prospekts through four neighbourhoods — the Jaunā Teika and Gustavs section is the Teika one. Brīvības gatve, a short distance away, becomes the A2 to Sigulda, Valmiera and Estonia at the city boundary. The decisive recent change is the Austrumu maģistrāle, opened on 21 December 2023: 2.8 km of grade-separated road costing €74.88 million, built to keep freight out of the historic centre, and terminating at the Ūnijas iela / Gustava Zemgala gatve junction on the quarter's doorstep. The city centre is 10–15 minutes by car and Riga Airport about 30 minutes. The quarter has 1,102 parking spaces across multi-level parking houses, roughly one space per 54 m² of leasable area, plus bicycle storage.

Rent excluding VAT and service charges