A sprawling 1,200-square-meter building sitting on nearly 0.62 hectares of land in Vilnius’s Šeškinė microdistrict has sold for nearly 5.53 million euros at an auction managed by Turto bankas, pulling in a price more than double its initial valuation as 23 bidders vied for the property.
Fierce Bidding on Buivydiškių Street
The auction kicked off with a starting price of 2.25 million euros for the property located at Buivydiškių g. 20. By the time the bidding concluded at the end of September, the final price had climbed to nearly 5.53 million euros, driven by intense competition among the 23 participants.
The winning bid was placed by UAB „Jamdena“, a subsidiary of „Maxima LT“. The purchase encompasses both the administrative building and the surrounding 62-ar plot of land.””
Rare Urban Land and State Proceeds
Indrė Kajokienė, Director of the Commerce Department at Turto bankas, noted that the property stood out due to its substantial land area in a heavily utilized urban sector. Kajokienė pointed out that such expansive parcels with wide-ranging development potential are becoming increasingly rare in Vilnius. She added that the proceeds generated from the transaction will be used to fund the renewal of state real estate.
From Police Headquarters to Commercial Frontier
The site carries a distinct administrative history. Until late 2025, the 1,200-square-meter building housed the Vilnius County Chief Police Commissariat before the agency transferred the real estate asset over to Turto bankas.
Flexible Zoning and Future Investments
Under the Vilnius municipal general plan, the Buivydiškių g. 20 plot sits squarely within an intensive development zone. This zoning designation leaves the door open for multiple architectural futures, accommodating everything from multi-apartment residential buildings and dormitories to commercial spaces and public-use facilities.
Vilius Rimkus, Director of the Asset Management Department at „Maxima LT“, explained that the company’s decision was driven fundamentally by the location’s accessibility and long-term potential. “The object, due to its designation, is attractive to be adapted for both commercial and residential purposes,” Rimkus stated. “We will choose the option that best responds to the needs of the surrounding district’s residents and city guests. We will inform about the choice or the size of the planned investment in the future.”
