Domus Kinnisvara Begins Reconstruction of Historic Villa in Tallinn City Center – Building Permit Secured!

On 04.05.2023, Tallinn City Government issued a building permit for the construction of Thamme Villa, a new development by Domus Real Estate located at Mardi Street 3. A heritage-protected, period-accurate wooden building together with a stone courtyard house will be completely reconstructed, while preserving the wooden oasis that maintains a sense of home in relation to the surrounding stone city. New, elegant and distinctive apartments will be created in the former office building, some spanning two floors. The project has been fully coordinated with the Heritage Conservation Board.

According to Janis Rimitsans, the professional real estate broker organizing the sale of Thamme Villa, there are no apartments with repetitive solutions in the project. "In planning each apartment, we have followed the principle that the homebuyer of our development feels like a prince or princess who has found a long-sought castle. This project is for people who value a distinctive living environment in Tallinn City," says Rimitsans.

Ingvar Allekand, development manager at Domus Real Estate, stated that Thamme Villa is a long-awaited and valued project on Tallinn's real estate market. "This is a very special project that emphasizes the importance of preserving old elements and gives new life to one of Tallinn's historic villas. We are confident that the new apartments will offer not only visual appeal but also comfortable and quality contemporary living environment. Essentially, this is trophy real estate, because the raw material we are working with is truly unique and architect Nikolai Thamm the Elder hardly needs much introduction".

Professional appraiser Martin Metsma highlights the connection between history and the future. "Quality reconstruction of a building with nearly 140 years of history combined with good functionality and distinctive character is a good recipe for growth in the secondary market value of these apartments in the future," says Metsma.

The reconstruction of the building will be completed in the summer of 2024. A public sale of the created apartments has not yet been decided, and initially negotiations would be held with those who have shown interest in the project themselves. The developer Mardi 3 OÜ is a subsidiary of Domus Real Estate with more than 20 years of experience. The Domus group has completed more than 32 residential and commercial buildings across Estonia.