The Etalon Group purchased the plot of 38 ha in St. Petersburg.
The right for constructing a big residential complex was sold.
The experts’ assessed the plot value as 8-9 bln. Rubles (21 000 Rub. per sq. m.).
The plot is located between Moskovsky pr., Obvodniy Kanal embankment, Malaya Mitrofanyevskaya st. and Mitrofanyevskoe shosse. This is an oblong plot, part of which is located behind former Varshavsky railway station in Admiralteisky District. St. Petersburg.
The owner has to clear the plot from existing constructions and develop utility lines.
The Galaktika residential complex of the total square of 680 000 sq. m. is planned to be comstructed on the plot. 22 buildings up to 18 floors will comprise the complex. The Etalon Group expects to get the profit of about $2 000 000 000 due to apartment sales in the Etalon Group project.
SOLD-ONLINE comments on the deal:
High deal value was reached due to combination of two factors: an opportunity of area complex development in big scales and the land plot location in historical area of the city. With consideration of deficit of land for residential construction in St. Petersburg the deal value is comparable to the value of alluvial areas.