A plot for construction of multi-storey residential house in Vyborg is offered for sale with 55% discount

The Auction House of the Russian Federation (AHRF) has scheduled the second auction within the framework of a bankruptcy procedure of the CJSC Sectoral GALS Designing and Engineering Office.
For sale through public offering offered a land plot with an area of 1 ha in Central District of Vyborg, Leningrad Region. The territory is located near Gagarin Street, which connected the centre of the city with the way out of the city; in a distance of 700 m there is the Leningrad Highway.
Address: 17, Phizkulturnaya Str.
In the nearest surrounding there are residential, social and business projects. Right opposite the plot a Central Culture and Leisure Park, where local inhabitants like to rest, is located. In 10-minute walking distance there is Vyborg Embankment. In walking distance all necessary objects of social infrastructure are available: kindergarten, school, hospital, pharmacies, grocery stores, cafes, banks and others.

The biddings will take place from 25 August until 3 November at the Electronic Trading Platform of the Auction House of the Russian Federation (ETP AHRF – lot-online.ru). During this period the cost of the Lot will be being reduced step by step.
The starting price of the Lot at the first stage (25-30 August) will be 123.9 million rubles.
Minimum price of the Lot at the last stage (19-24 October) will be 55.8 million rubles.

According to the Land Use and Development Regulations the land plot is located in ТЖ-3 territorial zone which allows using the plot for the construction an apartment residential house. A maximum height of the building in accordance with the Urban Development Regulations for this territorial zone is 28 meters (up to 9 floors).
Currently on the plot a five-story building of a C class business centre built in 1986 is located. The building area is 8,893.8 sq. m. About 30% of all areas of the building are rented for offices on a short-terms basis.

For detailed information about the Object of sale please see the website of the Auction House of the Russian Federation (AHRF)