Termination of the lease agreement for the Laagri “Hortes” and conclusion of a new lease agreement with Rikets Aianduskeskus OÜ

On 24.05.2017, a lease agreement was concluded between the fund’s subsidiary EfTEN Seljaku OÜ as the landlord and Hortes AS (bankrupt) as the tenant, under which Hortes AS (bankrupt) used the properties at Seljaku 4b and 2a in Harju County, Saue municipality, Laagri hamlet, including the building with technical systems and facilities. 

On 07.03.2025, the bankruptcy of Hortes AS (bankrupt) was declared by a court ruling. In this regard, EfTEN Seljaku OÜ demanded a guarantee from the tenant for the payment of future rent, ancillary costs as well as property maintenance and improvement costs and notified upon the cancellation of the lease agreement if the guarantee was not provided. Hortes AS (bankrupt) did not provide a guarantee, and the lease agreement expired on 31.03.2025. 

From 01.04.2025, Rikets Aianduskeskus OÜ will start to operate under a new lease agreement concluded ith the fund’s subsidiary on the properties at Seljaku 4b and 2a in Saue parish, Laagri hamlet, Harju County. 

Rikets Aianduskeskus OÜ belongs to the Rikets group, which has 30 years of retail experience. Today, the Rikets group has 20 flower shops in larger shopping centers in Estonia, a distribution center in Lagedi and a gardening farm in Vana-Aespa, where a large number of high-quality cut flowers and potted plants are grown. Rikets garden is one of the four largest summer flower growers in Estonia. The company employs 96 people.

Viljar Arakas
Member of the management board
Phone: 655 9515
Email: viljar.arakas@eften.ee