Date of an auction for the sale of 5-star Hyatt Hotel on Burny Cape in Vladivostok is scheduled

On 8th of June the Auction House of the Russian Federation (the AHRF) will hold the auction for the sale of unfinished Hyatt Hotel Complex in Vladivostok.
The auction will take place in Moscow Branch Office of the AHRF, in Khrustal’ny Lane, 1.
The format of the bidding holding – carried out in the immediate presence of bidders and with an auctioneer.

For the forthcoming auction a new report on the assets market value appraisal is ordered. The report will be carried out by one of the companies of the Big Four.
The Customer of the appraisal is LSC “Our Home – Primorye”.

The unfinished hotel complex consists of the hotel building, the area – 6,058 sq. m (79% of completion) and SPA building, the area – 2,633 (52% of completion). Together with the objects of unfinished construction a buyer will be transferred the right to rent two land plots with total area of 31.2 thousand sq. m, on which the hotel complex is located.

Address: 13, Naberezhnaya St., Vladivostok.
The sale is carried out by the order of JSC “Our Home – Primorye”.

“We can make the predictions concerning a forthcoming deal more or less reliable only after the appearance of a current cost of the hotel complex.
With the availability of an adequate price it will be not a problem to find a buyer, taking into account a rapid development of the Far East Region and a growing investment interest in Russia on the part of China and countries of South-Eastern Asia.
Just a year ago in Saint Petersburg we closed a deal with South Korean company – Lotte (one of the largest hotel operators in the world). In the center of Saint Petersburg on St. Isaac’s squire the Company reconstructed the building in emergency state for a five-star hotel. The other contacts are also available. We will present the project in China and in countries of Asian and Pacific Region. We think that searching for investor should be carried out just in this way, – comments Andrey Stepanenko, General Director of the Auction House of the Russian Federation.

For reference:
The construction of the Hyatt Hotel Complex was suspended in 2014. For today under ongoing mode only the maintenance and security of the buildings are carried out.
The Auction House of the Russian Federation (the AHRF) is the All-Russian multipurpose trading facility for the sale of state property, assets of state companies and corporations, non-core bank property, as well as pledged and bankruptcy assets in the interests of loan institutions.
The Company was founded on 31st of August, 2009, in accordance with the Order of the Government of the Russian Federation of 19.08.2009 № 1186-р.
The AHRF sells property throughout Russia and abroad – on the territory of CIS and on the territory of a number of European states. The AHRF trading facilities operate in Moscow, Saint Petersburg, Noginsk, Samara, Nizhny Novgorod, Rostov-on-Don, Yekaterinburg, Tyumen, Samara, Novosibirsk, Barnaul, Vladivostok. All offices are engaged in assets promotion in local markets, searching for future buyers, acceptance of applications for participation in auctions, auction holding.