Jugoexport building again up for sale

(Jugoexport)

The Privatization Agency of Serbia has put the building of the Jugoexport company in bankruptcy, situated in Kolarceva Street in downtown Belgrade, up for sale for the fifth time.

Another two properties have been put up for sale with their estimated value totaling RSD 5.85 billion.

According to the ad, the Agency sells five floors of the building in Kolarceva Street covering a total surface area of 5,505 square meters, an outlet at Republic Square (74 sqm), and a garage in Simina Street (192 sqm).

All juristic and physical persons are eligible to buy the property if they pay a deposit of RSD 1.17 billion. The deadline to submit a bid is November 26, when all submitted bids will be publicly opened.

The bankruptcy manager is to accept the highest submitted bid if it exceeds 50 percent of the property's estimated value. If the bid is lower, it can be accepted only upon the approval by the Board of Creditors.

The Privatization Agency has so far had four unsuccessful attempts at selling the building of Jugoexport in Kolarceva Street. The first time the building was offered for sale, on 24 August 2011, the price was set at about RSD 5.85 billion.

This building in Kolarceva Street has six floors. However, the top floor is not for sale because it is not owned by Jugoexport.