Vitebsk sets new record for real estate auction sales
This deal became the largest among those concluded based on the results of trading in the regional center in recent years. The previous record (Br9.6 billion in un-denominated rubles) had been held since February 2016, when unused buildings of the former evening school were acquired at an auction of the Vitebsk Regional Property Fund. The new owner of the record lot was Vitebsk Radio Parts Plant "Monolit" OJSC, whose representatives refrained from commenting on the prospects for using the real estate.
The property, which is a 2nd category architectural monument, was successfully sold at the third auction. The lot included a two-story building with an area of 508 sq.m, engineering communications, and a 0.05 ha land plot leased. Its starting price was reduced by 50% to Br529 thousand. Two participants showed interest in the real estate. The winner was determined at the 15th step, when the price exceeded even the market value of the property. Funds from the sale of the property will be transferred to Vitebsk Products OJSC, which was selling the real estate.