The property is located on Tehnika and Võtme streets in the Veerenni district and spans slightly over 49,000 square meters. Riigi Kinnisvara AS, the state's real estate body, had put the property up for auction with a starting price of €8.4 million.

On Thursday, the RKAS board confirmed the winner of the auction, which concluded on Monday.

"One bid was submitted for the Võtme tänav 14 property, amounting to €8,700,000. The bidder was Fund Ehitus OÜ," said RKAS communications manager Annely Jõgeva to ERR.

The area can be used for residential and commercial use. In total, 17 buildings can be constructed on the site, including nine residential buildings.

Under the terms of the sale, the old buildings must be demolished.

Tallinn Prison was located on Magasini tänav until 2018 when a new complex was built in Soodevahe on the border of Rae Municipality and Tallinn.

The area was handed over to the Estonian Defense Forces for training exercises, but residents complained about smoke and noise from the drills. Consequently, the Tallinn city government did not grant permission for urban combat exercises after the summer of 2019.

The prison on Magasini Street originated from a prisoner-of-war camp operating between 1944 and 1949 and later functioned as semi-closed penal colony No. 5 until the 1990s.

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