Bank Rossiya of Kovalchuk brothers bought a building in the center of St. Petersburg

Bank Rossiya of Kovalchuk brothers bought a building in the center of St. Petersburg
Photo: Evgeny Egorov / Vedomosti

The first tenant of the building area became the Administration of the Leningrad region.

Bank Rossiya of Yuri and Mikhail Kovalchuks purchased the building at Rastrelli Square in the center of St. Petersburg directly opposite to the Smolny. Earlier, in this building the Russian Institute of Radio Navigation and Time (RIRT is a concern of Almaz-Antey) was located, told to Vedomosti a real estate consultant.

Prior to the transaction Bank Rossiya held 3.4 thousand square meters in the building. Another 32 thousand square meters was owned by the concern Almaz-Antey, the remaining 730 sq. meters on the basement belonged to the state. According to the data base of the Unified State Register, the whole building, located next to the Smolny Cathedral and the two regional administrations - Petersburg and Leningrad region, was transferred to the Bank Rossiya in November 2015.

It should be noted that representatives of the Bank Rossiya and concern Almaz-Antey refused to disclose the terms of the transaction. The Managing Director of the business center Senator Dmitry Zolin believes that the transaction was not on market price. On his estimate, 1 square. m of similar premises in the city center can cost from $ 2000 to $ 5000.

Bank Rossiya has rented in a three-year lease premises with an area of 5000square meters to the Leningrad region administration. Under the agreement, the administration leases space at the rate of 700 rubles for 1 sq. m per month in 2016, and since 2017 - 1,100 rubles for 1 sq. m per month.

In 2014, the bank Rossiya hit into the US and EU sanctions lists together with their co-owners Yuri Kovalchuk and Gennady Timchenko. Brothers Kovalchuk are people close to Putin.

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