Kyiv's Magellan mall hits below $14 million price mark for sale

29.05.2023, 16:29
Kyiv's Magellan mall hits below $14 million price mark for sale - Photo

The state Deposit Guarantee Fund has for the 14th time put up for sale the pool of assets of the closed IR Bank (former Sberbank), which includes the Kyiv shopping and entertainment center "Magellan", according to the Fund's website.

The auction will take place on June 8 in the Prozorro.Sale system. The price of the lot is UAH 498.3 million ($13.6 million).

The preliminary auction was supposed to take place on April 12. This was the 13th attempt to sell the assets of IR Bank. The price of the lot was UAH 790.95 million ($21.5 million).

The following are for sale in one lot:
→ building of shopping center "Magellan" with an area of 28,539.5 square meters on Akademika Hlushkova Avenue, 13b near the "Teremky" metro station;
→ right of claim under two credit agreements and receivables;
→ property complex with an area of 13,041.3 square meters in the village of Krupets in Khmelnytskyi Oblast.

Built in 2004, the "Magellan" shopping center belonged to businessman Anatoly Yurkevych. Kray Property, a company related to him, opened two credit lines in the amount of $56.2 million in Sberbank in 2011. The developer was supposed to return the money by the end of March 2017, but failed to repay on time. In 2018, Sberbank took over the mall.

On February 25, 2022, the National Bank of Ukraine revoked the license and decided to liquidate IR Bank as a subsidiary of the Russian Sberbank.

For the first time, the Deposit Guarantee Fund tried to sell the shopping center "Magellan" on October 12, 2022. The starting price of the lot was 3.16 billion hryvnias ($86 million).

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