The cost of the plot for housing construction near Oktyabr’skaya Embankment is reduced by 100 million rubles

The Auction House of the Russian Federation (AHRF) is holding the auction within the framework of bankruptcy of a major alcohol importer – LLC Mozel’.

For the second time for sale offered the plot with an area of 1.2 he for construction of apartment complex in Nevskiy District of Saint Petersburg.
The territory located at the first line of Octyabr’skaya Embankment, near major transport arteries of the city – Dal’nevostochny Avenue and Narodnaya Street.
Address: 1a, Letter M, Krylenko Street.
On the given territory a future investor can build about 23 thousand sq. m of business class housing with a view of the embankment. Maximum development height – 40 (65) meters.
The sale will be carried out on the basis of public offering (with price-cutting), during the period from 13th of September to 3rd of November the price will be being decreased. The biddings will start from 450 million rubles.
The minimum price, down to which the value could be decreased – 250 million rubles.
The winner will be those whose price offer will turn to be maximum.

“A profitable location of the plot – within the Ring Road and near the Neva River – attracted attention of many investors, but for various reasons nobody of them appeared at the auction. So the creditors took a decision to decrease the maximum cost of the plot”, – comments Olga Zheludkova, Head of Department for Work with Troubled and Non-Core Assets of the Banks of the Auction House of the Russian Federation.

The Object located in a dynamically developed block of buildings. Near all necessary objects of social infrastructure (kindergarten, school, policlinic, stores, cafes and others).
In close proximity to the land plot a construction of RC (residential complexes) “Clear Way”, “Oh, Youth…” by Seven Suns Development Company is carried out. Besides, in that block of buildings the major developers have already been carrying out their projects: RC Civilization by LSR Group and RC Ideal City by BFA Development Company.

For detailed information about the Object of sale please see the website of the Auction House of the Russian Federation (AHRF)