OREANDA-NEWS. July 29, 2014. The Bankruptcy Administrator of Snoras has completed the sale of the second exclusive apartment situated in Gaono street, in Vilnius Old Town, owned by the bank.

The premises of 284 sq. m were sold for LTL 3.3 million. The apartment, intended for one former major shareholder of the bank, was not fully equipped. 

It is the second successful sale in the last months as the first fully equipped apartment of 200 sq. m located in the same building was sold some time earlier. The buyer paid over LTL 4 million for it.  

"The sale of one of the Bank's most expensive properties is beneficial for Snoras creditors. Despite the exclusive nature of these properties which, as a result, will only be of interest to a relatively small number of potential buyers, the deals were closed quickly and successfully", says Neil Cooper, Bankruptcy Administrator of Snoras.

The team continues to look for the buyer for the smallest apartment owned by Snoras measuring 104 sq. m and offered for a price of over LTL 1 million. 

"All the three apartments are top quality properties located in an authentic but comprehensively refurbished building in the Old Town of Vilnius, a prestigious part of the city. This is the most expensive real estate segment so we are especially pleased that these exclusive properties were sold in a relatively short period of time and above the average market price", says Ramune Askiniene, Director of the Consulting and Valuation Department at Colliers, the company in charge of the real estate sale.

Buyers are able to tour the last apartment of Snoras and submit their bids by 21 July, while the free process of sale of this real estate continues. Bids submitted before this date will be assessed and the decision to sell the property could be made if the terms will meet the requirements set by the Committee of Creditors.