The 16-story building, dubbed locally the ‘Glass Pencil,’ was built in 2001 when it was a symbol of Lithuania’s brave new future. But now, the owners of the office block and the land it stands on say it is out of touch with the times.

“The building’s engineering systems are hopelessly outdated and worn out,” Arvydas Avulis, head of real estate company Hanner, told Lithuanian state broadcaster LRT. “There are many other things that need to be fixed.”

Avulis said Hanner had considered two options: a thorough overhaul, or starting again. They finally decided it would be simpler to demolish and build something new.

One of the building’s shortcomings is that each floor has a leasable area of 350 square meters, compared to the 600 square meters typically offered by more modern competitors.

In its day, the Glass Pencil was an A-class structure and the tallest building in Lithuania, but times have changed.

“Now, there are other trends, there is more focus on integrity, i.e. how one building fits in with another, what the overall urban landscape is,” Avulis explained.

Technology has also moved on and become greener, the real estate boss explained.

“Ventilation and heating systems have completely changed,” he said. “Now, they are much more advanced, use less energy, and are in line with the green course that we must follow.

““Looking 20 or 30 years ahead, it is more rational to demolish that building and build a new one that meets today’s requirements and market demand.”

Avulis said Hanner would present proposals to local planning authorities on Wednesday and if they are approved will start publicizing the planned new building.

“If we receive a building permit, we can start demolition works in the summer of next year,” Avulis said.