25.03.2010

AHRF sold a non-residential property on pr. Prosveshcheniya

The Auction House of the Russian Federation sold at auction a property mortgaged with a loan from Sberbank.

A non-residential property was put up for sale with the address: 69 Prospekt Prosveshcheniya, 69. lit. A, 7-N. The property belongs to ALEXANDR NEVSKY and is on deposit with the Northwest branch of Sberbank. According to the conditions of the auction, the mortgage will be terminated after the auction, on the basis of a buy and sale agreement and a document on the results of the public auction.

The area of the property is 213.3 sq.m.

There were six applications for participation in the auction.

The lot was sold for 19,913,600 rubles (starting price – 12,053,600 rubles), which exceeded the starting price by over 65%. 263 steps were made during the auction.

The winner was a private entrepreneur.


 

Andrei Stepachenko, general director of the Auction House of the Russian Federation:

“We are satisfied with the results of the auction. The property was sold at a considerably higher price, which means that the owner will not only be able to pay off the debt to Sberbank, but also make money from this deal. I am certain that realization of mortgaged property outside of court is the most economically effective scheme for banks and debtors alike. The court process may go on for years, and during this time the sum of the debt increases because of court expenses, penalties and fines, and the deposit decreases in value and loses liquidity, and as a result its sale may not cover the sum of the debt.

The scheme of work proposed by us – the sale of mortgaged property outside of court at open auctions – makes it possible to sell problematic property profitably and in a short time.

The Auction House of the Russian Federation has already signed contracts to realize mortgaged property with Sberbank of Russia, the Bank of St. Petersburg, NOMOS Bank and Konstans-Bank. Talks are being held with other banking structures. There are around a hundred properties that the company is working with, which come to a total sum of around 19 billion rubles. There is a high degree of preparation, with documents for auctions, for ten properties, including properties that are similar to the properties sold today, liquid retail properties in the area of Grazhdansky Prospekt and Komendantskaya Ploshchad. Large properties are also being prepared for realization which could interest investment companies.”