For sale offered a territory for redevelopment for construction of housing of premium class in a historic part of Saint Petersburg

On 12th of September the Auction House of the Russian Federation (AHRF) has scheduled an auction by order of OJSC “Scientific, Research, Planning and Design Technological Battery Institute “Istochnik” (“The Source”).

For sale offered the territory of the “Izmeritel’” Plant (“The Measurer” Plant) with an area of 1.37 he in Petrogradskiy District. During 4 months after the transaction payment the enterprise will be relocated to a new production site in Rybatskoye.
The territory belongs to ТД1-1_1 zone, in which it is possible to construct social and business facilities and housing.
A permitted height: at the first line – 28 meters, in the heart of the block of buildings – 33 meters.
On the given territory it is possible to construct approximately 50 thousand sq. m of housing.

The territory located in the district with already established residential development, in walking distance from “Tchkalovskaya” and “Petrogradskaya” subway stations, near Bol’shoy and Kamennoostrovskiy avenues. A famous secondary school number 56 is located nearly opposite the plot.
Address: 50, Chkalovskiy Avenue.
Starting price – 650 million rubles.

Connections to all engineering and utility services (heating, water supply, electric power supply, sewerage) are available.

On the territory of the plant a complex of production and administrative buildings with total area of 20.1 thousand sq. m is located. During a redevelopment process investor can demolish all buildings except one – a historic building with an area of 1.5 thousand sq. m located in the heart of the quarter. The building can be adapted for modern needs.

“Uniqueness of the assets caused by its location – in historic part of Saint Petersburg, in Petrogradskiy District, which is one of the most prestigious in terms of housing and commercial construction. Housing in this district is traditionally in keen demand, and projects in the nearest surrounding – Aristocrat, Ofitserskiy, in Grebetskaya, Lumière and Classic residential complexes – are of high degree of readiness and practically fully sold. So, in terms of competition, the moment for appearance of a new project on the given territory is considered to be successful”,tells 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 detailed information about the Object of sale please see the website of the Auction House of the Russian Federation (AHRF)