A part of a peninsula on the Neva next to Malookhtinsky Avenue in St. Petersburg is being put up for auction, Russian Auction House’s official website announces, adding that the peninsula is facing the Alexander Nevsky Monastery.

The 0.43-hectare area will be reportedly auctioned off complete with a non-residential building.

Under terms of the auction set for May 26, bidding will start at $7.2m. No other financial terms have been disclosed yet.