31.08.2011

New conditions of sale of lots owned by LEK company and located on the territory of a block in Pargolovo: as well as loans for the acquisition of lots, Sberbank of Russia will give the buyer the opportunity to pay for the lots on an installment plan

In connection with changes in payment conditions for transactions, the Auction House of the Russian Federation will postpone the auction for sale of lots in Pargolovo to 30 September

The lots are located on the territory of a block that is bounded by the residential micro-district of Torfyanovka, Shuvalovo Park and the Severnaya Dolina complex that is under construction, next to the Parnas metro station. They are all in the zone of medium- and high-rise residential construction. Five land plots are up for sale. They all belong to LEK company and are pledged on a loan issued by Sberbank of Russia. The encumbrance in the form of the pledge will be removed after payment is made.

Starting price – 154 – 255 million rubles (average load on meter of improvements built - $180) Detailed information on each lot: http://www.auction-house.ru/auction/2717

The Northwest branch of Sberbank of Russia offers one possible option for paying the purchased lots over a two year period at 14.5% per annum according to the following scheme: 50% of the sum must be paid 30 days after the sale and purchase agreement is signed, and the remaining 50% over the course of two years in monthly payments. Furthermore, the possibility will remain to receive a loan at Sberbank for acquiring lots.

Andrei Stepanenko, general director of the Auction House of the Russian Federation:

“Sberbank of Russia, as the pledge holder for this property, is offering potential buyers of lots additional possibilities for payment. At present, construction companies may not only make use of a loan to acquire lots, but also an installment plan for payment. As the lots are being sold into the ownership of an investor, without encumbrances or requirements on terms of putting ready properties into operation, we believe that this proposal is unique for the Petersburg construction market. Besides the privileged conditions of payment, the lots themselves have a number of undisputed advantages: good location (close to the metro and major city highways, developed infrastructure, near a green zone), the high level of readiness of documents for each lot, etc.”.