Kyiv is full of beautiful buildings, many of which are up for sale.
The Kyiv Post has compiled a list of the 10 most attractive commercial real estate properties which, according to experts, are available for purchase in Kyiv.
Considering that Ukraine’s property market is still crawling out of a deep plunge that was triggered by the 2009 global recession, you would think that developers, property owners and agents would have rushed to publicize what’s out there for sale. But remarkably, finding these hot picks was no easy task.
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Real estate agents and developers seemed unwilling to reveal what’s out there, who owns it and whether it’s up for sale – let alone for how much.
Nevertheless, here is the list of hot picks that the Kyiv Post came up with. Before reading on, keep in mind that prices listed can be negotiable.
1. Baron’s castle on Yaroslaviv Val 1
$10 million
This is one of the most beautiful architectural landmarks in downtown Kyiv. According to CB Richard Ellis, an agency selling this gothic castle-like building, it is badly in need of reconstruction, although they say the roof and basement are in “gorgeous” condition.
Some potential buyers were ready to give as much as $8 million for this gem. But the owner, allegedly a member of Kyiv’s City Council, is in no hurry to sell. At least that’s the story given to the Kyiv Post by an employee at CB Richard Ellis.
2. Historic building on Esplanadna 32B
$6.9 million
This more than 100-year-old four-story building was reconstructed in 2002. According to Victoria Barabash, director of Park Lane real estate agency, which is selling the property, the building is designed for offices, but has a sauna and a swimming pool.
The joke circulating among property market insiders is that it can easily be turned into a kindergarten, school, or health clinic.
3. Hotel Holosiyivskiy
$13 million
The two-star, Soviet-era hotel on the outskirts of Kyiv along the road to Odesa is a bit gloomy looking nowadays. But its great location gives the property big upside potential. It is located a few blocks from the Ukrainian capital’s biggest exhibition center.
The potential investor would have to reconstruct the eight-story building. One big plus is that reconstruction plans have already been approved by city authorities.
4. Five-story building on Mazepy 11
$25 million
Constructed in 1913, this white, classic-style building is one of a dying breed of historic buildings left in downtown Kyiv. It has five floors and is 101 meters long. It stands right next to the picturesque Park Slavy greens. It could make a perfect fit for lawmakers and politicians.
Getting to the building from Ukraine’s parliament would take a few minutes by car or on foot.
5. Business center on Rylsky Provulok 6
$45 million
This business center is right near Ukraine’s ancient St. Sophia Cathedral and two of the country’s top hotels: the Hyatt and InterContinental. Its seven floors, 3.5 meter ceilings and 5,714 square meters of space fits more than a dozen offices.
In short, it unites ample space, great location and some of the best views in Ukraine.
6. Boutique on 23 Baseyna Street
$1.5 million
Given that it is only 100 square meters, this shop is expensive. But the price gets you first floor space in a prized Stalin-era building right next to Kyiv’s downtown Bessarabskiy market. Hundreds of thousands of people pass and drive by each day. That could be enough to justify the price.
7. Topaz Office Center on 2/10 Melnikova Street
$67.5 million
The developer started constructing this office center in 2007. It has a 15-storey tower and bottle-shaped windows. It is designed for offices, restaurants and shops, but unfortunately is only 80 percent complete.
The developer, a company called Investitsionno-Stroitelnaya Kompanya, seems to be short of funding needed to finish the building. So, it is looking for an investor.
According to Viktor Kalugin, chairman of the company’s board, the project’s central location makes it attractive.
8. Nyvki City Business Park
$ ? million
Encompassing 40 hectares, this business center is huge. It offers offices, warehouses, a gym and a clinic. Part of the area used to be part of the Verkon machine-building plant.
Although some market experts pointed out that Nyvki city is on sale, the marketing department of the business park did not confirm it. They did, however, tell the Kyiv Post that investors willing to help develop the first stage involving 10 hectares of property are welcome.
9. Detstvo trade center on 4 Kiltseva
$7 million
Kiltseva, the ring-road highway encircling Kyiv, already hosts lots of home appliance stores, building materials outlets and car dealerships. Much more development is expected in coming years.
Pretty soon, it will also become attractive for families. The new Detstvo mall under development could become very popular with parents and their kids.
10. Trade center on Raduzhna 15
$5.2 million
It isn’t pretty, it is deep in a sleeping district, and most of the building is already occupied by a Furshet supermarket. But it is the most practical purchase one can get nowadays.
Insiders say 100 percent of its 4,400 square meters of commercial space is occupied. The new owner will have a guaranteed monthly cash flow.
Kyiv Post staff writer Kateryna Panova can be reached at [email protected]
