Until the end of the year the most expensive deal in the land market of Saint Petersburg will take place – 50 ha for housing construction in Primorskiy District are offered for sale for the amount of 8 billion rubles The proceeds will be spent for setting

The Auction House of the Russian Federation (AHRF) is preparing for sale a territory with an area of 50 ha in Primorskiy District of Saint-Petersburg in Glukharskaya Street (Kamenka micro-district) Urban development plans are issued, an approved Site Planning Project is available.
Sales will take place until the end of 2016.

The plots are owned by LLC Prostor, who owns them after Group of Companies “Gorod” (The “City” Group of Companies). The proceeds will be spent for completion of three problem objects – residential complexes of the GK Gorod. RC Leninskiy Park, Sea Star and Pribaltiyskiy. As a result about 1800 buyers, who concluded contracts with the Gorod company, will get their apartments.

For sale the territory is divided into 8 separate lots with areas from 3.6 ha to 8.5 ha. All of them are for housing construction.
A total cost of all plots – about 8 billion rubles.

In accordance with the approved Site Planning Project (SPP) on the given territory it possible to construct a block of buildings with total area of about 1.8 million sq. m, of them about 800,000 sq. m – housing. However according to the last corrections of the Land Use and Development Regulations (LUDR) on the given plot a height restriction was increased up to 40 m, which allows a buyer to enlarged significantly a total area of the future bock of buildings.

“We forecast a high demand for the plots in Kamenka, this offer is truly unique – a ready site planning project along with lack of encumbrances for social structure. Such conditions guarantee a quick payback and profitability of the project. An average value of one meter of improvements will be 10,150 rubles. This is a very moderate price, lower than an average market price.
The SPP approved in accordance with former height restrictions, according to which a major part of development was not higher than 18 meters. In 2016, after making amendments in LUDR, it became possibly on this territory to construct houses with the height up to 40 meters and with local dominants – up to 75 meters. If buyers decide to reapprove the project of planning in accordance with new regulations, an economic results of construction will increase”, – comments Andrey Stepanenko, General Director of the Auction House of the Russian Federation.