Previously, the Bank of Estonia had listed the manor complex for sale with a price tag of €1.49 million, before lowering the asking price to €1.05 million due to a lack of interest.

The central bank's latest auction listing, with a starting bid set at €700,000, will run from Monday, March 31 through 2 p.m. on May 15 on the Varakeskus real estate auction website.

"The Bank of Estonia has been trying to sell Maardu Manor for ten years, but despite some interest and a reduction in the asking price, [the property] still has yet to be sold," noted Rait Roosve, director of the Cash and Infrastructure Department at the central bank.

The Bank of Estonia first listed Maardu Manor for sale in February 2015, following a land registration process that was a prerequisite for the manor's sale.

The bank also held a public auction for the manor complex last spring, with a starting price of €1.05 million, but ultimately did not end up selling.

Located east of Tallinn, the Maardu Manor complex in the Jõelähtme Municipality village of Maardu was purchased by the Bank of Estonia in 1993, and underwent thorough renovations over the following years.

The manor, which historically belonged to several prominent Baltic German families, is in good condition. The complex consists of five historical buildings as well as a manor park with relatively well-preserved old trees.

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