Largest shopping center in Belarus is being put up for sale.
The historic shopping centre in Rechytsa city, located on Sovetskaya Street, 56, is being auctioned off as part of a bankruptcy procedure by OfficeLife. Originally an orphanage, the building was converted into a shopping centre in 2019.
The shopping centre, spanning over 9,000 sq.m., has seen numerous illegal renovations since its conversion, dating back to 2019. Many tenants have conducted unauthorized renovations that were never legalized, which now require rectification.
The new owner, who is expected to be announced by late 2025, will need to invest significant funds to bring the shopping centre into compliance with legal requirements. This includes obtaining new technical passports for the buildings, which can only be issued after the illegal renovations are rectified.
The local municipal administration currently owns the shopping centre, and the decision on its buyer is eagerly anticipated. The new owner will also be required to pay for the purchase of the shopping centre.
Despite the need for renovations, the shopping centre remains a significant property in Rechytsa, offering a variety of stores for residents and visitors alike. The auction presents an opportunity for a new owner to breathe new life into this historic building, while ensuring it meets all legal requirements.
Stay tuned for updates on the auction and the future of this iconic Rechytsa shopping centre.
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