Business

The Ruskino Movie Theater Is for Sale for 120 Million Rubles. This Is Below the Threshold for Commercial Real Estate in the City

In six months, the object has become 40% cheaper

The owners of “RusKino” are selling half of the freestanding building for 120 million rubles. Changes in the proposal for the sale of the cinema appeared on the website “Avito” on May 18. Earlier, the price of the share in the property complex was 200 million rubles.

As stated in the announcement, for this money the buyer will receive 4835.4 m² of real estate on the first line of Suzdal Avenue, in the developing area of the city of Vladimir. The lease includes a movie theater, a restaurant, a children’s leisure center, offices and cafes.

In 2010, there was a reconstruction of the structure. The cinema is being sold at a price of 24.3 thousand rubles per square meter, which is substantially lower than most proposals for the sale of commercial or residential real estate in the city. According to the service “Domklik”, the cost of premises for businesses in the regional center starts from 30 thousand rubles.

The ad itself for the sale of the cinema appeared on the site “Avito” on September 28. Then the owners asked 200 million rubles for half of the freestanding building, and the ad itself indicated an area of 2467 m². During the existence of the offer on the site it was viewed more than nine thousand times.

Until 2014, the cinema was owned by the well-known businessman Sergey Yelesin. After his death, the property passed to his relatives. In 2020 and 2021, the cinema’s revenues fell against the backdrop of the pandemic. In 2022, after sanctions were imposed on Russia and the refusal of many film companies to provide films for distribution.

As of May 23, there were nine films on the cinema’s schedule. Five of them are Russian productions. All of the films in current distribution are rated below six points on Kinopoisk.

Original publication

Related News

Back to top button