The Cascade Restaurant Complex in the centre of Sochi got a new owner

On 20 March the Auction House of the Russian Federation (AHRF) summarized the results of the auction as part of a bankruptcy procedure of CJSC Cascade Industrial Complex.
For sale was offered a real estate of the company – Cascade Restaurant Complex with a total area of 5.3 thousand sq. m with a land plot with an area of 8.5 thousand sq. m (rented until 2058).
The Facility located in the centre of Sochi, in the distance of 500 m from the Marine Passenger Terminal and in the distance of 1.5 km from the bus station and the railway stations.
Address: 31, Kurortny Av, Sochi.

The biddings were held at the Electronic Trading Platform of the Auction House of the Russian Federation (ETP AHRF) through a public offer.
Eight proposals on the price were received.
The sale price was 216.1 million rubles.
The Winner was an individual.

“The Cascade is located in an exclusive location, which offers great prospects for investor. Many people were interested in the Facility, but, unfortunately, nobody can make a purchase decision for a long time.
An advertisement about public sale allowed involving in the biddings a maximum number of participants and, as a result, to sell the asset at a market price”, – tells Yulia Akimova, Head of Krasnodar Office of the AHRF.