3.94 ha for housing construction near Okhta-Moll in Saint Petersburg

On 30th May the Auction House of the Russian Federation (AHRF) scheduled biddings for the sale of a land plot with an area of 3.94 ha for housing construction on the territory of the Okhta former industrial area in Krasnogvardeyskiy District.

Address: 3, letter A, Partizanskaya Street.
The starting price – 800 million rubles.
Payment by installments, during 1 year period, at 9% per annum, is possible.

The plot belongs to category of old industrial territories, which now are a “gold land fund” of Saint Petersburg. They are consistently transferred into zones of housing and business construction, and, at the same time, do not need both a global road construction and engineering site preparation. From the point of view of future buyers of apartments, in this project an urban environment comfort and proximity to historic part of the city can be combined.

A territory of Burevestnik Scientific and Production Enterprise could be an analogue of this project, with a similar area of 3.9 ha on Malookhtinskiy Avenue, 68, which was sold at the AHRF auction in the end of 2018 for the amount of 1.5 billion rubles.

In accordance with the Land Use and Development Regulations, the plot is located in the TD1-2_2 zone, where residential development is permitted, as well as the construction of objects of public and business purposes, including hotels.
According to preliminary estimations, about 72,400 thousand sq. m of improvements can be constructed on this territory, without taking into account parking rooms. Of them 36.4 thousand sq. m of housing and 36 thousand sq. m. of hotels to be sold.
In immediate surrounding there is all necessary infrastructure for comfortable living: schools, kindergartens, hospitals, pharmacies, stores.
In walking distance there are ground transport stops.

Nearby there is Zanevskiy Avenue, in a distance of 15 minutes Ladozhskaya subway station is located. As a part of the first stage of Admiralteysko-Okhtinskaya line opening of Bolsheokhtinskaya-2 and Prospekt Energetikov subway stations is scheduled.

Connection to all engineering services and utilities (heat supply, water supply, gas and power supply) is available.

“With the price of 800 million rubles cost of land with revaluation for 1 sq. m of erected improvements will be 11-12 thousand rubles. In housing construction projects in this district this is an attractive enough indicator for developers. A final cost of flats and apartments to be built in this case can be in the range of 120-130 thousand rubles per sq. m.
In the same time, in addition to the object of residential purpose, construction of a commercial object, which will be also in demand in the market, is possible.
We are sure, that the project will attract attention of developers, as more or less large land plots with a good location are practically not available in the market”, comments Raisa Muratova, Head-in-Charge of Commercial Department of the AHRF.