The owner of an iconic former cinema in Tallinn has put the property up for sale, at an asking price of €8.25 million.
The Kosmos, on Pärnu mnt in central Tallinn, was built during the Soviet era, and is under heritage protection, meaning any new owners will be restricted as to what alterations they can make to the 3,300 sq m building, and 5,900 sq m plot.
Oliver Orro, chief heritage protection specialist at the City of Tallinn's planning board, said: "Views of the building from the distance, from Pärnu mnt, and the entrance facility with its canopy are also significant."
"In the case of this building, it is very interesting that the period Kosmos signage on the facade has been preserved and was previously restored."
"There are few historical examples of this type of graphic design, which can also tell us about the history of infographic design, left in the urban space," Orro added.
"The most important question is whether we say that the hall, with its raised floor, must be preserved or not. This dictates whether the building can be used for an alternative purpose, or whether it would remain as a cinema, or become an event venue," he continued.
All the facades and landscaping, including fountains in front of the building, are under protection, as well as the building itself, he said.
At the same time, Estonian law does not restrict the land use as such, rather more the physical form of a building etc., meaning the Kosmos need not necessarily remain a cinema.
The building's overall condition is good, Orro added, though only a few lights remain from the original interior set-up.
If any new owner were to make alterations, they would need to apply for special conditions in relation heritage protection, which Tallinn heritage protection will then consider.
Cinamon, an independent cinema chain, had been operating Kosmos since 2014, but announced that changing customer preferences had led to the end of its function as a movie theater.
Cinamon's owner, Saturn Investments, sold the property to Cubanitas OÜ (formerly TNS Sat Capital) in summer 2021.
Designed by architect Ilmar Lassi, the Kosmos was completed in 1964.
Editor: Andrew Whyte