Aida 5 New Showcase Windows Downtown Business Premises Add Urban Life to the Pärnu River Waterfront
Colonna is completing the first phase of the reconstruction of the Pärnu Concert Hall and its neighboring building at Aida 5, which adds new modern street-level commercial spaces to Pärnu's city center. The former Swedbank office at Aida 5 received a completely new solution, an internal street was created in the middle of the building, and an additional entrance was built from the direction of the Pärnu Museum and Pärnu Concert Hall. These changes bring active city life to the area and contribute to Pärnu's vision of revitalizing the riverbank district.
Aida 5 adds a total of 1,200 square meters of modern commercial space to Pärnu's commercial real estate rental market. The commercial spaces of various sizes (62 m² – 360 m²) are suitable for retail, services, as well as offices and representative spaces. The commercial spaces with display windows have separate entrances both directly to the street and to the internal street created in the building's atrium.
According to Janno Peterson, head of brokerage services at Pärnu Real Estate Expert, new commercial spaces have been added to Pärnu's city center in limited amounts in recent years, yet demand for street-facing commercial spaces in the new city center continues. "Pärnu entrepreneurs value spaces with street-facing entrances and flexible opening hours that shopping centers cannot provide. The Aida 5 spaces with display windows offer these possibilities, and in addition, the rent is more favorable compared to shopping centers," Peterson said.
The ideal location next to the Old Town, next to the Pärnu Concert Hall and Pärnu Museum and shopping centers Port Artur 1, Port Artur 2, and Pärnu Center brings dense pedestrian traffic to the Aida 5 commercial spaces.
The building also remains in a location of historical commerce and active city life. The Aida 5 building is located above the linen warehouses that belonged to Baltic-German merchant H. D. Schmidt's trading house. Now business activities will flourish again in the same location, and the building's internal street will be decorated with pictures and information boards about the area's fascinating history. H.D. Schmidt began his business activities in the middle of the 18th century, and it developed into one of the region's most successful and renowned international enterprises for two centuries.
In addition, Aida 5 and the shopping centers are next to the distinctive brick-built former riverbank industrial district, which has come to life in recent years and offers a bohemian contrast to the new city center business hub with its various entertainment venues.
