The Bank of Russia has signed a contract with the VEB Group.The Russian Federation has an agreement on the purchase of a business center under construction. Nevertheless, the historic building on Neglinnaya Street will remain behind the regulator
The Bank of Russia is buying the Slava business center under construction near the Belorusskaya metro station in Moscow, the press service of the regulator reported. The planned deadline for the transfer of the Central Bank facility is the first quarter of 2026.
The amount of the transaction was not disclosed. It is only known that it was determined based on the results of an independent assessment. An Interfax source said that we are talking about 54 billion rubles.
A Business FM source clarified that the Central Bank had previously placed a number of divisions in this area, on Pravda Street, including therefore this location is interesting to the bank.
Denis Kolokolnikov, Managing partner of the RRG consulting company, comments on the deal.:
Denis Kolokolnikov, managing partner of the RRG consulting company, “The Bank of Russia has been looking for a new office building for a long time, and information that negotiations are underway to acquire the Slava business center has already been underway. I do not fully know the exact figures, but it seems that we are talking about 100 thousand square meters. This is definitely a big deal. If we talk about volume, probably the cost is about 450-500 thousand per square meter. This is certainly a suitable place for the Bank of Russia. The bank building on Neglinnaya is a historical building that was built at the end of the XIX century, it is preserved for the Central Bank, but this is probably a continuity that really needs to be preserved as an image, iconic building.”
The Central Bank stated that the purchase of a new business center will optimize the cost of owning real estate that is owned, abandon the lease of all premises and significantly reduce the total area of buildings used. It is expected that after receiving ownership of the complex and completion of repair work, the Central Bank will transfer to the Federal Property Management Agency more than ten objects that it owns today. At the same time, the historical one, on Neglinnaya Street, will remain with him.
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The new location of the regulator was appreciated by NF Group partner Maria Zimina:
Maria Zimina partner of NF Group “The location is excellent. This is one of the best business districts. The Belarusian business district has always been quite premium, even according to the latest classification, the largest number of buildings there is recognized as premium. These three buildings are very well worth it, there are no complaints about how they are located, they are made according to the best latest standards. Therefore, as an office facility, it is an excellent choice. Of course, we will find questions for each building, but here we don’t want to — a really great project. Those organizations that owned the old foundation, which was still being built under the Soviet Union, continued to live and multiply in different buildings. For them, consolidation in a large, new, modern office is, of course, a blessing, because one way or another, buildings change over generations, they are improved, and in the old fund, centrally located, it is often simply impossible to apply those technologies that would facilitate work and optimize, make better ergonomics for employees. Sometimes, instead of 20 different nice houses in the center, it is better to have a good classic business center, where it is easier to seat people, where there is good air, good ventilation and there is no endless need to repair and amortize repair costs.”
The Central Bank planned to place employees in the same office space back in 2019 and negotiated with Megafon and Sberbank on the purchase of the business center “Armory” owned by them on the Garden Ring. However, the deal was prevented by the coronavirus pandemic, which forced the bank to transfer a significant part of its employees to remote work. The deal to buy Armory has lost its relevance, said the head of the Bank of Russia Elvira Nabiullina in 2020.