A System Business Center at Vyborgskaya Embankment sold with almost a two-fold excess of the starting price

On February, 22nd the Auction House of the Russian Federation (the AHRF) hold an auction for the sale of operating the System Business Center of C class with an area of 8.2 thousand sq. m, along with a land plot with an area of 3.1 thousand sq. m.

Two bidders took part in the auction.
During the auction made 15 bidding steps for ascending the starting price. So, the price of sale grew by 75%.
The Winner of the auction – OJSC Diet-18 – paid for the Lot the amount of 544.7 million rubles (starting price – 311.3 million rubles).

The biddings were held within the framework of LLC Style bankruptcy procedure.

The Business Center located on the bank of the Bolshaya Nevka River, near the exit from the Grenadier Bridge. In a distance of 8-minute walking there is Vyborgskaya subway station.
Address: 29, Letter A, Vyborgskaya Embankment, Saint Petersburg.

“It is worth noting that more frequently the objects within the framework of bankruptcy procedure sold at second auctions or biddings through public offer. But today's biddings became an exception to the rule. In spite of the skepticism of some analysts, the sale was held and exceeded all possible expectations. The object is sold with 75% excess of the price and this is a good example of a high-quality pledge and a competent pre-selling work”,comments Olga Zheludkova, Head of Department for Work with Non-core and Troubled Assets of Banks.