The largest auction in Plovdiv, organized by the Agency for Public Enterprises and Control, will be held in June. The Bulgarian Development Bank is selling an unfinished residential complex with over 200 apartments, 170 parking spaces and 35 shops. It is located directly behind the "Kolodruma" sports hall, being on the opposite side of the "Gerbera" complex. on the boulevard.
The starting price of the auction is BGN 33 million, which includes the plot of nearly 7 decares, and the built-up area is over 30,000 square meters, Trafficnews.bg specifies. The residential complex has six sections, which are locked between the boulevards "Mendeleev" and "Naicho Tsanov", whose construction began more than 10 years ago. Investors were the already defunct company “BTM Estates” EOOD, who then sold the project to "Global Leasing Consult and Practice is” Ltd. The latter also failed to complete the project, and in the end it was purchased by BBR. Although the sale of the apartments was launched, the complex was never completed. According to the announcement, the complex has been completed in “rough construction”. The construction was commissioned to "Syenite Holding".
The highest section has 16 floors, and it has apartments, offices and shops. Some of them have even been sold.
According to the announcement, the auction will take place on June 16, and documents for the electronic auction are currently being accepted. The starting price is BGN 33 million without VAT, and the participation deposit is BGN 3.3 million. The bidding step is BGN 660,000.
There are interesting clauses in the tender conditions themselves. One of them is that if none of the authorized bidders bids higher than the starting price by one step, the auction is declared closed and the paid participation deposits are retained and non-refundable.
In the conditions of the conclusion of the tender, it is written that a preliminary contract is concluded with the ranked candidate, only and only on the condition that BBR receives written consents from “Syenite construction group” AD, “Construction Consultant“ EOOD and “AGM Engineering“ to replace BBR as a party to the specified contracts, by the future buyer of the property.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE