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Petrovsky Arsenal Project

Petrovsky Arsenal Project. Project Description. Asset Description Location. Saint Petersburg. Resort district. Asset description. Location Excellent location in the most prestigious area of Saint Petersburg in the heart of the town of Sestroretsk

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Petrovsky Arsenal Project

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  1. Petrovsky Arsenal Project
  2. Project Description Sestra River Developments
  3. Asset DescriptionLocation Saint Petersburg. Resort district Sestra River Developments
  4. Asset description Location Excellent location in the most prestigious area of Saint Petersburg in the heart of the town of Sestroretsk Immediate vicinity to Lake Razliv and Gulf of Finland – the most desired resort destinations for the citizens of Saint Petersburg 5 km from the Ring Road, 400 meters from “Scandinavia” highway (M10) Property Land and buildings are in the full ownership of developer Unique Industrial Architecture of protected buildings Infrastructure Allowed 5 MWT of electricity Possibility to get additional 2 MWT of electricity Close connection to Gas lines allows to build a heating plant North-West Speed Diameter road to be built by 2015 Close connection to water and sewage supply Sestra River Developments
  5. Asset DescriptionProperty All the territory is conditionally divided into the historical part (8,6 ha), the sports part (4,2 ha) the hillside part (1 ha). Оn the historical part there are 9 buildings which are under protection of City Heritage Committee (total area 22,005 sq.m). The buildings are supposed to be retained and renovated. Sestra River Developments
  6. Asset Description Protected buildings Sestra River Developments
  7. Asset Description: Territory Master Plan Sestra River Developments
  8. Planning Permissions Rezoning Converted from industrial zoning (St. Petersburg master plan) to mix-use area Obtained permit in mix-use zoning for residential Created City planning design for the district, approved with all related city committees Successfully passed through Public Hearings in 2008 City Planning design fully conforms with City Zoning and Building regulations (ПЗЗ) Final Governor’s approval is expected in Autumn 2009 Engineering Infrastructure Initial agreements for electricity connections obtained, contract with LenEnergo to be signed in 2009 Heating plant is designed and approved Water and sewage systems have been designed Territory master plan with access roads and utilities was designed and approved by Road police (ГИБДД) Sestra River Developments
  9. Planning Permissions Approvals 4 Gradplans for land plots received, 5 more to receive in October 2009 General territory plan was approved by Heritage Committee and Architectural Committee City Planning Design developed, passed approvals of all Committees and Public Hearings Governor’s Approval (Постановление об Утверждении ППТ) of City Planning design is expected in Autumn 2009 After the above Approval Scheme Design documentation to be submitted to Independent Design Expertise. Expertise conclusion is expected in Winter 2009/2010 Site preparation Demolished 100% of soviet-era buildings Reinforced foundations of listed buildings Preparation for refurbishment works in listed buildings are mainly done Mosin’s House refurbishment works finished, building commissioned Scheme Design is completed and ready for submittal to Expertise Sestra River Developments
  10. Pilot Project Mosin’s house. First building 1,257 sq.m. of Petrovsky Arsenal project was commissioned May 2009 Sestra River Developments
  11. Owners Project development rights belong to Sestra River Developments LLC. Since 2006 Sestra River Developments LLC is a part of Jensen Group I Limited Partnership, $100 million real estate investment fund. The fund is managed by Jensen Group, an American company with over 15 years experience in the Russian market as an investor, developer, and property manager. Jensen Group and Sestra River Developments LLC offers opportunity to participate in equity co-investing of the Petrovsky Arsenal project. Project lifetime: 2006 – 2015 Construction: 2010 - 2015 Total estimated project cost $327 million Project IRR 25% Committed equity $45 million The needs of equity co-investing stands at approximately $40 million Sestra River Developments
  12. Contacts To those interested we are prepared to present a proper detailed business-plan. Steven W. Wayne Owner Jensen Group Nevsky pr.32 Phone: + 7 (812) 325-1306 www.jensen.ru Irene Anisimova Real Estate Development Director irene@sestrariver.ru Phone: +7 (812) 380-5350 Fax: +7 (812) 380-5358 www.sestrariver.ru www.petrovskyarsenal.ru Sestra River Developments
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