"Radisson SAS Slavyanskaya" costs no less than 5.27 billion rubles

The Moscow City Hall has decided on the starting price for the Radisson SAS Slavyanskaya hotel near the Kievsky railway station. For the hotel building and the land plot underneath it, the winner of the auction, which is scheduled for December 6, will have to pay at least 5.27 billion rubles. The entire hotel is valued at a record amount for the Moscow hotel market - almost 11 billion rubles.

The hotel building is being sold separately from the share in the company Slavyanskaya Hotel and Business Center LLC, which leases the hotel (contract until 2053), follows from the materials of the specialized state unitary enterprise (SGUP) for the sale of Moscow property. The collection of applications started on October 19, the auction for the sale of the object on Europe Square is scheduled for December 6, 2012. The lot includes an eight-story hotel building built in 1990 with an area of 60,523 square meters. m and a land plot of 3.2 hectares on which it is located. The starting price is set at 5.27 billion rubles. together with land, auction step - 263.5 million rubles.

Now 50% of Slavyanskaya Hotel and Business Center LLC belongs to businessmen God Nisanov and Zarakh Iliev, who purchased the stake in 2008 (the remaining 50% is from the Moscow City Hall). The cost of the deal was not disclosed at the time. There is already an order to sell the city’s share in the management company, SGUP told Kommersant. “The bidding campaign will begin on October 25. The existing shareholders have a pre-emptive right of redemption. If they use it, the bidding will not be held,” explained Natalya Lisovskaya, head of the privatization bidding department of the State Unitary Enterprise. The representative of God Nisanov and Zarakh Iliev, Nadezhda Spiridonova, once again confirmed the businessmen’s intention to participate in the upcoming auction.

In October of this year, Deputy Mayor and Head of the Moscow Property Department Natalya Sergunina reported that the city’s entire share in Slavyanskaya is worth 8 billion rubles. (about $257 million). “This is a comprehensive assessment, which includes the cost of the building and a stake in the management company,” explains Ms. Lisovskaya. Thus, the mayor’s share in Slavyanskaya Hotel and Business Center LLC is worth 2.73 billion rubles, and the entire hotel business, taking into account the tenant company, building and land, is worth 10.73 billion rubles.

Stanislav Ivashkevich, Deputy Director for Hospitality Industry Development at CBRE, believes that the established cost of the hotel building (12.86 million rubles per room) corresponds to market estimates, but the price of the city package in the rental company is overpriced. According to him, the new owner of the Metropol hotel, Alexander Klyachin (he owns the Azimut hotel chain), bought a stake in SP Metropol (manages the hotel of the same name from the Kremlin and rents the hotel building) for approximately 452.72-565 million rubles, based on estimates of the entire joint venture from 905.44 million to 1.13 billion rubles. “But JV Metropol manages the hotel, and Slavyanskaya Hotel and Business Center is only a tenant, because Slavyanskaya is managed by Razidor SAS,” the expert notes.

Even if Slavyanskaya is sold at the starting price, the transaction will be the largest in the history of sales of city hotels. Alexander Klyachin bought the Metropol Hotel building, paying 8.874 billion rubles, or 24.5 million rubles, for it. per room. The deal broke the previous record set during the sale of Ukraina to God Nisanov and Zarakh Iliev for 7.88 billion rubles. "National" was sold for 4.67 billion rubles. (about 23 million rubles per room; it was bought by the family of Russneft co-owner Mikhail Gutseriev in 2011).

If the new owner of the building turns out to be a buyer who is not associated with the structures of the existing private shareholders of Slavyanskaya Hotel and Business Center LLC, the parties may have to negotiate new property relationships, lawyers warn. According to the lawyer of the Selyutin and Partners group, Ekaterina Novitskaya, the lease agreement provides for standard grounds for its termination - by agreement of the parties or due to violation of the terms of one of the parties. In the latter case, the lease agreement can only be terminated in court.

Ekaterina Gerashchenko

Moscow did not stand up for the price