The Southwest branch of the Auction House of the Russian Federation put up the 16-storey building of the Development-Yug business center including the land plot in Krasnodar for sale by public offering, according to a statement made by the Auction House whose electronic trading facility presents the lot.
The building is currently pledged with OJSC Sberbank of Russia, the owner, Development-Yug Construction and Investment Corporation LLC, secured the bank's consent to sell the asset.
The asset is located in a park area next to a high-end housing estate currently under construction. The windows provide a picturesque outlook on the Chistyakovskaya grove's woodlands. The building is located within a ten-minute drive from the city center featuring vigorous urban business development in its eastern part, the statement points out.
The area of the building is 13,921.8 square meters. The land plot is 0.12 ha in area.
The plan for the building was developed together with the Ninth Shanghai planning institute in line with the latest planning and construction trends. The building has modern telecommunications equipment. There is also an underground parking lot with 200 slots and a surface parking lot for 30 cars.
The asset is intended to be sold by means of a public offer, with downward price movements. The starting price of the asset is RUB 1.1 billion. The period of sale is 10 months. During this period the price of the object will gradually drop to the cut-off price of RUB 0.5 billion. Purchase offers (bids for the lot) may be submitted from January 13, 2013 through November 29, 2013.
The construction and investment corporation Development-Yug was established on March 1, 1995. The company is particularly committed to residential projects in Krasnodar.
Sberbank of Russia (tax number: 7707083893) is the largest bank in Russia, Central and Eastern Europe. Its authorized capital is RUB 67.76 billion and is represented by 21,586,948 thousand common shares and 1 billion preferred shares at par value of 3 rubles each. The Bank of Russia owns 50%+1 voting share in Sberbank. The bank has the largest countrywide branch network with 17 regional head offices and more than 20,000 banking outlets and internal departments, along with subsidiary banks in Kazakhstan and Ukraine.
Net profit (IFRS) of Sberbank for 2011 rose by 74% to RUB 315.942 billion from RUB 181.648 billion the year before. Net profit (IFRS) of Sberbank for H1 2012 decreased by 0.5% to RUB 176.1 billion.
According to preliminary data, Sberbank of Russia increased its net profit for 2012 by 11% year-on-year to RUB 344 billion.