After the attempt of Rostelecom to sell the new building of the Central Telegraph at an auction for 2 billion rubles. it was not crowned with success, the state-owned company decided to transfer it to the balance of the controlled structure - Telecom-5 LLC. But the technical transaction does not exclude further sale of the object: Capital Group Pavle Te remains the main contender for it.
PJSC Rostelecom has closed a deal to sell the new building of the Central Telegraph in Moscow, the state-owned company said on Wednesday. The amount of the transaction amounted to 2 billion rubles, but the buyer in the state-owned company is not called. A source “Kommersant”, familiar with the situation, explained that a few days ago the building was transferred to the balance of Telecom-5 LLC. The phone of this company did not answer.
According to Kartoteka.ru, LLC Telecom-5 is equally controlled by LLC Sberbank Investments and PJSC Bashinformsvyaz, subsidiaries of Sberbank and Rostelecom. This company was established in 2015 as a sub-fund of commercial real estate. In 2017, it was reported that a total of 16 commercial real estate sites in nine cities in Russia were transferred under its management. Their total area is more than 100 thousand square meters. All these assets were previously on the Rostelecom balance sheet.
As explained by the source "b", the transfer of the new building of the Central Telegraph "daughter" of "Rostelecom" does not exclude its further sale. He assumes that the transaction was concluded to further simplify the sale procedure - bypassing the auction.
The key interest in the purchase, according to a Kommersant source, is still the Capital Group.
The company itself declined to comment. Since the early 1990s, the Capital Group has built 7.8 million square meters. m of various real estate. The main owner of the company is Pavel Te.
Yulia Makarova, leading lawyer of the property and liability relations practice at NUS “Amoulex”, explains that there was no need to sell the new building of the Central Telegraph at the auction. “This is not about the fulfillment of statutory requirements, but about the owner’s attempt to show transparency and efficiency,” she explains. The decision to transfer the asset to the subsidiary structure, Ms. Makarova, explains the fiasco in an attempt to sell the property on the free market for 2 billion rubles. In her opinion, the deal is indeed rather formal in nature and is aimed mostly at not disrupting the portfolio optimization program. “Market participants were not willing to pay the stated price, but Rostelecom decided not to change either the approved property sale program, or the price due to administrative costs or simply because of the unwillingness to disappoint shareholders,” says Makarova.
The new building of the Central Telegraph was built in 1978 in Nikitsky Lane - this is the neighboring house with the main building on Tverskaya Street. The area of the object is 12 thousand square meters. m, of which 6 thousand square meters. m rented. According to the text of the presentation for potential investors, now the area in the building is rented at a price of 24-26 thousand rubles. for 1 square. m per year at market rates in the area of 60 thousand rubles. in year.
About the active sale of the new building of the Central Telegraph became known in August 2018, then, in addition to the Capital Group, the main contender for the assets was the hotel chain Azimut Hotels Alexander Klyachin. But the latter later withdrew from the negotiations, the sources of “Kommersant” claimed, and the only tenders were declared invalid. As a result, the interlocutors of “Kommersant” claimed that the Capital Group could receive the object at a discount for 1.8 billion rubles. (see “Kommersant” on November 13). Colliers International partner Vladimir Sergunin estimates the potential costs for the redevelopment of the new building of the Central Telegraph at 1–1.4 billion rubles. He is confident that the facility should be turned into coworking or simply developed as a classic business center.