Prices for premises of street retail in Moscow are reduced to 15%

On 3rd of October the Auction House of the Russian Federation (AHRF) has scheduled the second auction for the sale of 28 premises for street retail in different districts of Moscow.
The premises areas vary from 65.3 sq. m to 430 sq. m. Earlier the Sberbank offices located in them.
All objects located in the first floors of residential buildings near subway stations and public transport stops.
The geography of the objects is extensive: inside the Third Traffic Ring ( Danilovskiy, Taganskiy, Mozhayskiy districts), inside the Moscow Ring Road (Nagatino-Sadovniki, Levoberezhny, Alekseevskiy, Koptevo, Maryina Roshch, Zyuzino, Zyablikovo, Savelovskiy, Begovoy, Teply Stan, Khamovniki, Lyublino) and outside the Moscow Ring Road (Solntsevo and Kosino-Ukhtomskiy districts).

The starting price varies from 10.2 million rubles to 48.9 million rubles.

The biddings will be held by the order of LLC Sberbank Capital/

“Earlier the given objects were offered for sale as a part of different auctions, but for different reasons were not sold. In order to attract on October 3 to the biddings maximum number of participants the Owner took a decision to review the price and to reduce it by 10-15%.
Taking into consideration that the premises of Sberbank – it is a qualitative street retail, we expect that a cut price will become for many investors the main argument to come and to struggle for the Lot”, – comments Olga Zheludkova, Head of Department for Work with Troubled and Non-Core Assets of the Banks of the Auction House of the Russian Federation.

For more information about lots please click the link.

For reference:
Sberbank during several years has been selling its former branches throughout Russia. The offices are released within the framework of the program for reformatting the banking network, started in 2011. It is supposed that all branches of the bank must meet certain criteria by location, services provided and so on.
For the period of 2013 – August 2016 AHRF sold 934 objects with a total area of about 374,000 sq. m and a total cost of nearly 15.7 billion rubles. In the main these are built-in premises on the first floors of residential and commercial buildings and small detached offices.