Gelendzhikskaya buhta boarding house was sold at the auction within the framework of the privatization with the price exceeding 60%

The Auction House of the Russian Federation (The AHRF) concluded the bidding on behalf of The Federal Agency for State Property Management, on January 28. A 100% federal block of shares of Gelendzhikskaya buhta boarding house was put up for sale within the framework of the privatization.
JSC Gelendzhikskaya buhta boarding house owns a pension of the same name in the center of Gelendzhik, 500 meters from the city beach. 
Address: 39, Pervomaiskaya Street, Gelendzhik.
The pension is operational. According to the financial statements for 2018, the income of the pension was about 30 million rub.
The boarding house includes: the main building with an area of 2.9 thousand sq.m., dining room with an area of 1.4 thousand sq.m., as well as other buildings (bath, warehouse, administrative buildings) with a total area of 4.8 thousand sq.m.; land plot of 1.1 ha (in long-term lease until 2059).
The auction was held on the electronic trading platform ETP of The AHRF - Lot-online.
Four bidders took part in the auction.
During the auction, participants took 736 steps to increase the initial price. Thus, the lot cost increased 1.5 times and made 194 million rub. (initial price is 120.4 million rub.).
The buyer is an individual.
«We are satisfied with the auction results. High potential of the further development of the region, competent positioning of the object in the market and attraction of a wide range of investors have allowed to increase cost of a lot on 60%», - says Grigory Nachinkin, the head of the Department of privatization of The AHRF.