Latest Kopli Development Tender Failed Due to Legal Technicality - Daily ({{commentsTotal}})

Tallinn's Kopli distric
Tallinn's Kopli distric Source: Photo: Postimees/Scanpix

British company Ransome's Trading Holding Company Ltd, the only real estate firm to qualify for the second round of bidding for the 100-million-euro Kopli development project, did not register a bid due to a legal technicality.

Postimees reported today that the company's owner, Paul Cooke, was prepared to make an offer under a second company also belonging to him, which was against the procurement's rules.

A representative of Cooke said when the next tender is announced, he is willing to take part again.

Martin Vahter, the head of the 1Partner real estate company, said last week, after the latest tender failed, that the Heritage Board and its complicated requirements are to be blamed for driving investors away.

The city has been trying to offload the 17-hectare are in north Tallinn for years. The plot comes with detailed plans for a 100-million-euro residential area.