Rare Commercial Property in Downtown Belgrade to be Auctioned Off

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The auction of a 3500-square-meter building at 31 Kosovska street in downtown Belgrade, Serbia, has been announced for October 12, 2017.

The property belongs to defunct construction company Rad International, which filed for bankruptcy several years ago and first tried selling the building through a public auction in 2015, with no success.

Kosovska street is located in the Stari Grad (Old Town) Municipality of Belgrade and is one of the oldest streets in the Serbian capital, just around the corner from the Parliament building and several city monuments. The street is among a rare 34 streets that have never gone through name changes throughout the city’s colorful political history.

The property in question seems to have current tenants and is in need of some renovation. It is unclear why the property has not been sold in previous auctions. The building consists of nine floors and a net area of 3,304 square meters, sectioned mostly into office suites with multiple rooms. The starting price of the auction currently stands at around 2.8 million euros and the auction is open to all interested buyers until October 5.

Feature image source credit: Zlatan Jovanovic [CC BY 3.0], via Wikimedia Commons

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