Eesti Pank is holding a public auction to sell Maardu manor house and its buildings and grounds, which are owned by the central bank. The manor house and grounds have been on sale for several years at the price of 1.49 million euros, but the starting price in the auction will now be 1.05 million euros, and bids will be accepted from 16 April to 16 July.

 “Eesti Pank has had Maardu manor on sale for almost ten years now, but although there was some interest in it and the selling price has been lowered, no final deal has ever been reached for it. We still want to sell the manor house and its grounds because we use it little and so owning it does not fit with the principles of an efficient organisation”, explained Rait Roosve, Head of the Cash and Infrastructure Department at Eesti Pank.

Before setting the starting price and inviting bids, Eesti Pank had a fresh expert assessment made of the manor house, and of its condition and its market value. The selling price was consequently cut by a further 440,000 from the 1.49 million euros that had been asked, and so the starting price for the public auction will be 1.05 million euros. The auction will be run through the real estate auction website Varakeskus, and bids will be accepted from 16 April until 16 July at 14.00. More information on Maardu manor house and on the conditions for the auction can be found from the auction site of Varakeskus OÜ.

Eesti Pank first put Maardu manor house up for sale in February 2015 after a consolidation process that was required before the manor could be sold. The central bank has discussed the sale of Maardu manor with the Ministry of Finance and the national property office, but the state was not interested in buying the property.

Eesti Pank bought the Maardu manor property near Jõelähtme in Harjumaa in 1993 and renovated it thoroughly in the following years. The manor earlier belonged to various well-known Baltic-German families and is in good condition. The property consists of five buildings and a relatively well-preserved manor park with native trees.

For more information on the sale:
Kristel Tohu
Varakeskus OÜ
[email protected] 
Tel 503 1481

Press enquiries:
Hanna Jürgenson
Eesti Pank
Communications Specialist
[email protected]
Tel: 56 920 930