Five potential buyers participating in third auction for T1 Mall of Tallinn
The third attempt of selling the T1 Mall of Tallinn is set to begin on Wednesday with five companies registering to bid for the bankrupt shopping center by the deadline on Tuesday.
The auction will start at 12 noon on December 1 and will end at noon on December 8 with 30-minute extensions available for the participants.
The starting price is €55 million after previous attempts at €85 million and €65 million failed.
Bankruptcy trustees Kristo Teder and Indrek Lepsoo are selling the property at 2 Peterburi Road which belongs to the bankrupt AS Tallinna Moekombinaat together with the T1 Mall Of Tallinn shopping center operating on it.
The T1 mall, including the stores, eateries and service facilities located at its premises, remains open. Many of the business spaces in the mall are empty, however.
The mall opened in late 2018 and is most well-known for its roof-top ferris wheel, but struggled from the outset to attract tenants.
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Editor: Kristjan Kallaste
