(Source: http://www.cashinout.ru/tverskaya.shtml)

National Media Group has sold the building of “Izvestia” on Tverskaya Street.

The experts estimate the transaction amount at $ 35-40 million. The buyer is not disclosed. “National Media Group” CJSC (NMG) and its 100% subsidiary “Invest Media” LLC reduced their stake in “Izvestia” OJSC, selling 23.15% and 50.2%, respectively.

“Izvestia” OJSC manages the building on Tverskaya, 18, building 1, where the editorial office of the newspaper with the same name was once located. The owner of the newspaper from February 2014 is another legal entity – “Izvestia Newspaper” OJSC. It is also owned directly by NMG - 23.15% and “Invest Media” - 50.2%.

The owner of the remaining shares both of “Izvestia” OJSC and of “Izvestia Newspaper” OJSC are considered the structures associated with the Vice President of LUKOIL Leonid Fedun. The press secretary of NMG did not respond to the request from RBC. But the source close to the group confirmed that NMG sold its stake in the building on Tverskaya Street. Still, the transaction will not affect the newspaper itself, the interlocutor of RBC assured. “Izvestia” newspaper has been produced by the “News Media” Publishing House of Aram Gabrelyanov (also the Deputy CEO of NMG) by the order of NMG for several years. Other assets of NMG include REN TV and “Fifth Channel”, “Russian News Service” radio station, 50% of “Art Pictures Vision” TV-content producer (its projects including “Molodezhka” (“Junior”) TV series on STS channel), 25% of the “First Channel”.

In addition, NMG manages the “Metro” newspaper in St. Petersburg. Revenues of all NMG in 2013 made 14.7 billion roubles, operating profit - 2.4 billion roubles. According to the report for 2013, “Izvestia” OJSC owns non-residential premises with a total area of ​​almost 14.8 thousand sq. m, 7.8 sq. m of which are rented.

The average rental rate with allowance for shopping spaces is 28.8 thousand roubles (about $ 900 per 1 sq. m per year). The building on Tverskaya Street can be estimated at $ 35-45 million, according to the Director for Business Development of “Colliers International” Vladimir Sergunin.

The building has a premium location, so it would make sense to reconstruct it as an A class business centre, the expert thinks, in this case the reconstruction costs will amount to about $ 15 million. The building could be purchased by the “Tashir” Group of Samvel Karapetyan. In 2011 “Tashir” has become a general contractor of reconstruction of the complex of “Izvestia” on Tverskaya Street, which is now owned by “Izvestia” Publishing House” FSUE, as the “ Kommersant” newspaper previously reported.