Endover considers converting City Plaza tower into homes

Property developer Endover is considering turning Tallinn’s 23-storey City Plaza office building into a mixed-use property with apartments, ERR reports. The building’s current tenant, LHV, is due to move to a new office building next door in early 2028.

Endover is looking at adapting the existing building without expanding it. Tallinn City Government has sent the City Council a proposal to repeal the detailed plan covering City Plaza.

Deputy Mayor Tiit Terik said Endover representatives had consulted with the city about the building’s future but had not filed a formal application. He said noise could make residential use unsuitable on the lower floors, which could remain partly commercial. The council could decide on the planning matter this year, Terik said; further steps would depend largely on the owner’s plans.

Endover chief executive Roul Tutt said the project was at a very early preparatory stage. LHV’s lease runs until March 2028, so construction could begin only after it expires. Before then, Endover plans to complete the necessary procedures and design work with the city’s planning department. Tutt said it was too early to estimate construction costs.

City Plaza was completed in 2004 and belongs to a company of the same name, in which the owners of property developer Estconde hold a majority stake. A land-register entry made in February secures a claim for the transfer of ownership in favour of Endover Assets. The news outlet Ehitusleht reported in the summer that Endover intended to buy the building for 23 million euros. The parties have declined to comment on the price or terms, citing confidentiality, and the deal is expected to close next year.

LHV’s new building, City Plaza 2, is being constructed by Merko on the former site of the Estonian Academy of Arts. The 101-metre building will have 28 floors above ground and two below. Estconde Invest board member Margus Tallermo said construction was on schedule, with a topping-out ceremony expected at the end of November and about a year of interior work remaining.