«Vesta» bought out the former workshops of ZhREU in Vitebsk
The retailer turned out to be the sole bidder for the property, which was put up for auction for the first time. The total area of the object is almost 390 sq. m. According to Larisa Kozhanova, Deputy Director of the joint-stock company, when deciding to participate in the auction, the company's management evaluated many factors, including the population density and development prospects of the microdistrict.
In particular, a medical center is being created near the former workshops, which will become a center of attraction for citizens, positively impacting customer traffic.
The building, constructed in 1988, is planned to be modernized into a grocery store with a small section for related non-food items.
Vesta has experience in transforming housing and communal services facilities: almost a year ago, the company purchased a complex of buildings of a former boiler house on Mira Street in the regional center. This property is currently under development, with the store opening scheduled for early 2020.
The expansion of the company's network of facilities in the regions remains relevant for Vesta, but the directions of prospective development are not yet disclosed. However, a solid foundation for future growth has been laid. According to official data, in 2018, Vesta increased its revenue from product sales by approximately 14% and finished the year with a net profit of over 8 million rubles, which is 25% more than in 2017.
The Vitebsk Regional Property Committee is also increasing its revenue from real estate sales at auctions.
As reported by Pavel Lukyanov, Head of the State Property Management Department of the committee, in the first quarter of 2019, this indicator increased by almost 80% compared to the same period last year.
In total, 20 buildings and structures were sold during this period (an increase of about 11%), with about a third of the sold buildings being former schools, clubs, and similar social facilities in rural areas.
Another 5 buildings were sold in April, so since the beginning of the year, the total revenue from property sales has closely approached half a million rubles. By the beginning of summer, "Vitebskoblimushchestvo" had already put 54 unused properties up for auction.