For Sale: Exclusive Laggedi Island in Estonia – A Unique Investment Opportunity Near Tallinn

On the Estonian real estate portal Varakeskus, Laggedi Island has been put up for auction. Screenshot: Varakeskus

On the Estonian portal Varakeskus, specializing in real estate sales, an auction was announced for the sale of Laggedi Island, located on the Pirita River just two kilometers from the capital of Estonia, Tallinn. The starting price of the lot is 1.2 million euros, and the auction is set to conclude on April 3rd.

The island draws attention not only for its scenic location but also for its ownership history. In 2005, it was acquired by SMB Invest, co-founded by Sergey Matviyenko, the son of the well-known Russian political figure Valentina Matviyenko, who held the positions of Chairperson of the Federation Council and Governor of Saint Petersburg.

The plans for the island were ambitious: it was intended to build an elite residential community on its 10-hectare territory. However, there were issues with implementing these plans, related to access to the island. The only bridge connecting Laggedi to the mainland is owned by the family of Estonian businessman Alexey Chultz, which complicated access to the island.

Sergey Matviyenko left SMB Invest in 2007, after which the company changed owners. Now, the new owner of the island will have a unique opportunity to realize the vision of creating an exclusive residential area, surrounded by beautiful nature and endowed with an interesting history.