The well-known St. Petersburg palace of Prince Michael Mikhailovich has been sold by auction.
      
      The name of the new owner has not been disclosed yet, until all formalities are over. It is only known that the palace was bought by some company for 520 million roubles. By the way, the auction did not cause a great interest among potential buyers. Only two firms took part in it. As a result the palace was sold at the starting price.
      
      The object has been let on lease till December, 25th, 2049. According to the contract terms the buyer has got the right to use the building of the palace with the area of 5.030 thousand square meters and a plot of land 2.2 thousand square meters large located at the Admiralteiskaya Embankment.
      The prince’s palace has become one of the nine culture monuments of federal value that Petersburg authorities decided to sell in 2010. Officials explained that the sale of the monuments was necessary for attraction of assets for their preservation.
      
      Source:
      cpv.ru
       gazeta.ru
Author: Vera Ivanova