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An unsuccessful auction drastically reduced the price of an appetizing property

The plot and adjacent movable property is sold for less than BGN 1,300,000

Oct 10, 2024 14:37 347

An unsuccessful public sale reduced the price of a greenhouse in Plovdiv nearly three times. The industrial property in the village of Gradina has been on the lists of judge contractors for nearly two years, its price is progressively falling, but a buyer has not yet been found.

The base for agricultural production is owned by the company "Inter co invest", managed by the farmer and animal breeder Zlatko Georgiev, and the construction company "Evroekoproduct-MV" of Kiril Vladimirov and Hristo Mladenov, Trafficnews recalls. However, years ago, their joint business was dragged down by debts accumulated due to a defaulted mortgage. This resulted in the property being put up for auction, with the original price in January 2023. was the colossal BGN 3,500,000 without VAT. Two attempts later, it fell to BGN 2,157,500.

To date, however, the same property is being asked for just under 1,300,000 leva /663,715 euros/. And the parameters of the offer remain unchanged – built greenhouse for fruits and vegetables with an area of 15 decares. The glazed greenhouse has a building permit from 2013, recertified in 2016, and received Act 16 in 2021. The investment intention was to grow mainly tomatoes and cucumbers there.

The total area of the land property is 50 decares, and a building with an administrative-domestic part, handling and boiler room was also built in it. An electric fence, site nets and facilities and a borehole were built. The rest of the land – about 40 acres, represents abandoned fields.

What's more - the price includes the market value of movable property adjacent to the base - solid fuel boiler, pellet hopper, 3-part chimney, expansion vessel, collector and drilling shaft.

The offer, released by ČSI Konstantin Pavlov, has been open for bidding since October 18 and will last for 1 month. On November 19, it should become clear whether the nearly 3 times lower price for the property was able to attract potential buyers.

You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE