Lviv: the cost of premises at the privatization auction increased more than 7 times

Today, an online auction for the privatization of non-residential premises in the central part of Lviv took place. Nine participants competed for the ownership of the asset, and the final value of the three-story building with an area of over 1300 m² increased by 7.2 times. From the starting price of UAH 11.77 million to the winning bid of UAH 85 million, including VAT, totaling UAH 102 million.

The winner of the auction was a former tenant who used the premises as an office since 2018. Throughout the years of using state property, the tenant made improvements worth over UAH 11 million.

"Some argue that war is not the appropriate time for privatization, claiming that "state property is being sold for pennies." However, such results, on the contrary, prove that during auctions participants themselves regulate the market value of the object, competing for the right of ownership. State property today is an internal reserve for filling the budget of a warring country. Our Defense Forces need these funds," emphasized the Chairman of the State Property Fund Vitaliy Koval.