Jugoexport building in Kolarceva Street in Belgrade put up for sale again

The Privatization Agency of Serbia today again put up for sale the building of the Jugoexport company in bankruptcy in Kolarceva Street in downtown Belgrade and two more real estates whose estimated value totals RSD 5.85 billion.
The Privatization Agency is selling a business building with a total surface area of 5,505 square meters, an outlet at Republic Square (74 square meters), and a garage in Simina Street (192 square meters).
The building in Kolarceva Street has six floors, but the top floor is not for sale because its owner is not Jugoexport.
The deadline to submit bids is May 19, when all bids will be publicly opened.
Bankruptcy manager is to accept the highest submitted bid if it exceeds 50% of the estimated value of the given property, and if the offered price is smaller, the bid can be accepted only if the Board of Creditors gives the green light.
The Privatization Agency has so far made several attempts at selling the building of Jugoexport in Kolarceva Street. It was first put up for sale on 24 August 2011 at a starting price of about RSD 5.85 billion.
Jugoexport went bankrupt in 2001 because of debts to banks.