On July 11 the State Unitary Enterprise on Property Sales in Moscow run the auction on forwarding the objects of cultural heritage for tenancy.
The major conditions of forwarding objects for tenancy are:
- Payment of rental fee indicated at the auction;
- The auction winner arranges renovation for his costs. The amount of works is agreed with the Department of Cultural Heritage of Moscow;
- Upon renovation works termination the investor has the right to request recalculation of rental fee as 1 Rub. per sq. m. For the whole term of tenancy agreement (49 years).
The term of renovation works can’t exceed 5 years.
With consideration of the initial auctions held in April 2012, per unit figure for buildings with the square from 705 to 1 160 sq. m. is in the range of 16 000 – 23 000 Rub. per sq. m.
The building with the square 145,8 sq. m. was sold with per unit figure of almost 69 000 Rub. per sq. m.
Information on the sites:
1.Site: "Residential house, 2-nd half of XIX century"
Address: Moscow, Pechatnikov per., 7
Building square: 145,8 sq. m.
Initial value: 1 080 000 Rub.
Finalvalue:10 007 000 Rub. (68 600 Rub. per sq. m.).
2.Site: City mansion having belonged to V. F. Kolesnikov, the Sargines and M. E. Shapatina (late XVIII – early XX century)
Address: Moscow, Taganskaya pl, 88, building 1
Building square: 1 159,7 sq. m.
Initial value: 8 670 000 Rub.
Final value:19 118 000 Rub. (16 400 Rub. per sq. m.).