The Auction House of the Russian Federation has sold a non-residential building and right of lease of a land plot on the territory of Izhorsky factory, pledged on loan of Sberbank
The Auction House of the Russian Federation has held auctions on pledged property. The following were put up for sale as a single lot:
1. 1. building of a carbon dioxide station with area of 770 sq.m. located at the address: St. Petersburg, Kolpino, Izhorsky zavod, 58, lit. ZHCH
2. 2. right of long-term lease (until 2054) of adjacent land plot with area of 3,796 sq.m.
Количество участников – 4.
Sale price – 12,574,400 rubles (starting price – 7,174,400 rubles). The property was sold with an increase of 5,400,000 rubles (75.3%) The winner was an individual entrepreneur.
The properties were registered in the ownership of OOO Kraftum-Rus and pledged under a loan issued by the Sberbank of Russia to a third party. In accordance with the conditions of the auction, the encumbrance will be removed within 10 days from the time that the sale and purchase agreement is signed.
Konstantin Raev, Deputy general director of the Auction House of the Russian Federation:
Some banks and investors still believe that pledged property is a problematic asset which is impossible to work with. We do not agree with this position – pledged property is in fact ordinary private property, but with an additional encumbrance. And it should be realized according to the same principles as non-pledged private property – at an adequate price, with a normal term of exposition and full information about the property. If one approaches a solution to this problem constructively, then no problems arise with its realization. None of our purchasers who have bought a pledge see problems with this status. They are interested in the price, electricity facilities, condition etc. And procedures and terms of terminating a pledge are clearly outlined in documents, the properties are sold at the owner’s wish and with the bank’s agreement, so this is not a problem at all.
The Auction House of the Russian Federation has already accumulated certain experience in the realization of pledged property, and we are certain that in future we will be able to work effectively with these assets. We have currently announced auctions on two pledged property – a land plot on Moskovskoe shosse for housing construction by LEK company, and a land plot on naberezhnaya Robespierre of Pervaya Proektnaya Kompaniya. By the end of the year, we plan to announce another series of auctions on pledged property for a total sum of over 1.5 billion rubles.