Block of shares of the Shakhtar hotel in Moscow was sold with twofold over price

On September 4, the electronic trading platform of the Auction House of the Russian Federation Lot-online completed the auction on behalf of the Federal Property Management Agency, as part of the forecast privatization plan for 2017-2019.
At the auction with twofold over price were sold 100% of shares of Shakhter Hotel JSC. The company owns real estate consisting of a hotel, an administrative building and two land plots with a total area of 8.6 thousand sq.m.
Address: 27, Ulitsa Verkhnie Polya, Moscow, bldg 2.

Shakhter hotel is located in a quiet area of southeast Moscow, 10 minutes from the Bratislavskaya metro station. The hotel has a 3-star category and is a nine-storey building with a total area of 5.7 thousand sq.m. The hotel has 118 rooms of different classes and is in excellent condition.

Six bidders participated in the auction.
The auction lasted almost 36 hours.
During the auction participants made 1,020 steps to increase the initial price. The excess amounted to 204 million rubles with a step of 200 thousand rubles.
The winner of the auction - ООО «АРГО» - purchased a lot for 400 million rubles (the initial price - 196 million rubles).

«We are pleased with the results of the bidding. We have done a lot of work within the framework of the agency agreement. A full range of marketing and advertising activities was carried out to promote the asset, as well as the search for potential investors», - comments Oksana Vologzhanina, Head of the Department of Privatization of AHRF.