The former Kresty prison complex in St. Petersburg will be put up for auction before the end of the year
The property complex of the former legendary prison “Kresty” in St. Petersburg will be put up for auction before the end of 2024. This was reported by the general director of “Dom.RF” Vitaly Mutko.
The starting price of the property at the auction could be around one billion rubles, but the exact amount will only be known after the assessment is completed at the time the auction is announced, Mutko explained.
Now everything is basically [к продаже] ready, we want it by the end of the year. It’s a complex facility – there’s a boiler room, two dormitories
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It is planned to open a museum and exhibition complex in the building
The total area of Kresty was initially 43,900 square meters, the prison occupies a plot of 4.17 hectares. But in the end, several buildings, including the current Church of St. Prince Alexander Nevsky (it will be transferred to the local diocese) and dormitories, were decided to be removed from the lot. Thus, objects of 41,500 square meters and a site of 3.92 hectares will be put up for auction.
How clarified Mutko, it is proposed to create a public and business space with a museum and exhibition component.
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The complex will require significant investment in renovation
According to NF Group partner Stanislav Bibik, one billion rubles is the market price for such a complex. In an interview with “Vedomosti” He suggested that the price of the property could increase during the auction, but this would depend on the number of participants.
Experts interviewed by the publication said that the complex will require significant investment in renovation. As Bibik explained, it is necessary to carry out large-scale reconstruction and refurbishment of buildings, which implies restoration of historical facades and adaptation to modern operating standards. At the same time, due to its location in the central part of St. Petersburg, there is a good opportunity to create a business space with high attendance there, he believes.
At the same time, Deputy Head of the IBC Real Estate branch in St. Petersburg Sergey Vladimirov noted that this is one of the most specific objects in the city, having a negative context, which may affect the sale price. However, Deputy Head of the Sales Department of the Russian Auction House in St. Petersburg Daria Goncharova pointed out people’s interest in chambers, dungeons, bars and towers, citing the Peter and Paul Fortress and the Tower as examples. She sees the difficulty in finding an investor who is aware of how difficult the object is and is ready for long and painstaking work with it.
The Kresty prison complex was built in 1884-1889 on Arsenalnaya Embankment on the site of a former brewery and wine cellars. It includes two cross-shaped five-story buildings. At various times, the prison housed Leon Trotsky, Anatoly Lunacharsky, Nikolai Zabolotsky, Lev Gumilev, and Joseph Brodsky.
At the end of 2017, the prison was transferred to Novye Kresty in Kolpino. In 2023, the Federal Penitentiary Service (FSIN) transferred the building, which is an identified cultural heritage site, to the Dom.RF corporation for sale.
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