Over 16 hectares for warehouse and retail spaces in Petersburg put up for auction

The Auction House of the Russian Federation announces an auction for the sale of a land plot of an area of 16.2 hectares, located at the intersection of the ring road and Prospekt Englesa (Bugry village). One square meter of land costs $90.

The object up for auction is a territory of an area of 16.2 hectares, located in the Leningrad Oblast, Bugry village, in an area bordered by Propsekt Engelsa, the Ring Road and 8th Verkhny Proezd. The territory is divided into 8 lots with an area from 0.49 to 3.2 hectares. The lots are intended for construction of warehouse and retail real-estate. There is the possibility of connecting 5 MWt of electricity, gas supply, water pipeline and sewerage.

The owner of the plot has agreed to organize a side road along the ring road, from which turn offs can be made to the adjacent territories, including to the plot in question.
Starting price – 452 000 000 rub.
Auction date – 29 May 2013

Andrei Stepanenko, general director of the Auction House of the Russian Federation
“Previously, the land in Bugry village was available directly, without auction, at a price of $110 per square meter. But subsequently, the owner decided to reduce the starting price of the object. The drop in price immediately drew several potential investors. It is likely that the new cost corresponds to the maximum degree to the budget of the projects which the interested parties are working on. This was also the reason that an auction was announced: the new owner of the land plot will be determined on an equal footing in the process of an open auction”.