RKAS puts former Tallinn courthouse on open market after failed auctions

Estonia’s state property company Riigi Kinnisvara AS (RKAS) has put the former Liivalaia courthouse in Tallinn on open-ended sale after three auctions failed to attract bids, ERR reported. The asking price remains 4.14 million euros.

RKAS first offered the property for auction in summer 2023, with a starting price of 4.5 million euros. No bids were made, and experts criticised the price as too high. The company tried again in autumn 2025, lowering the starting price to 4.14 million euros, but still found no buyer.

The sale was paused while the detailed plan was awaiting approval. After Tallinn approved it in summer 2026, RKAS launched a third auction at the same price. The auction ended on September 11 without any interested buyers.

RKAS sales manager Marko Künnapas said larger commercial development projects may require more time for preparation and decision-making, and that a four-week auction period may not be enough. He said the lack of bids alone did not show that the price was too high or that the approved plan was unattractive to developers. Finding a buyer for a project of this scale could take longer, he said.

The property is now being offered without a fixed closing date, with buyers able to submit offers on an ongoing basis. Once RKAS receives a qualifying offer, it will publish the details on its website and property portals. Other interested buyers will then have two weeks to submit offers. If a higher bid arrives during that period, the deadline will be extended by three working days. RKAS will notify all bidders of new offers.

The Liivalaia 24 plot covers 0.77 hectares. Under the detailed plan, up to 15 percent of the land may be residential and at least 85 percent commercial. It allows for a commercial building of up to 12 storeys, either with or without residential units. Tallinn began preparing the plan in April 2016 and approved it ten years later.