The key facts
- The Panov estate is being sold for 65 million rubles: a main house and two wings of 900 sq. m plus 18.5 hectares of land
- About 300 million rubles have been invested in restoration — floor structures, roof trusses, an elevator shaft, a copper roof
- 14 km away is the village of Domnino, the former estate of the Romanovs; nearby are the sites of Ivan Susanin's feat
What is for sale and at what price
A 19th-century noble estate of the Panov family in the village of Korolyatino, Susaninsky District, Kostroma Region, has been put up for sale for 65 million rubles, reports Life.ru citing TASS. According to the agency, this is the most expensive property among historic buildings offered to investors in Russia and Belarus for tourism development.
History of the estate and condition of the buildings
The history of the estate dates back to 1610, when it passed to the noble Panov family and remained in their possession until 1918. The surviving ensemble in the classicist style took shape in the 19th century and includes a main house and two wings with a total area of 900 square meters; along with the buildings, the buyer will receive a land plot of 18.5 hectares.
Funds invested and market context
About 300 million rubles have already been invested in the estate's restoration — an amount significantly exceeding the sale price. In the main building, the floor structures and roof trusses have been replaced, an elevator shaft has been prepared, and the roof has been covered with copper. 14 kilometers away lies the village of Domnino — the former ancestral estate of the Romanovs, and nearby are the places associated with the feat of Ivan Susanin.
How such properties are valued
Anton Leskin, head of the commercial real estate department at the Etazhi company, explained that the value of such properties depends not only on the condition of the buildings but also on their historical significance: with the development of tourist infrastructure, the price of a property with an interesting past can rise by 20–30%. At the same time, if a property has cultural heritage status, the new owner is obliged to comply with requirements for its preservation and restoration — meaning that buying a historic building often comes with additional expenses.
Other historic real estate offers
Among other offers is a 98.2-square-meter space in the building of the 19th-century Borchaninov-Pervushin mill in the center of Yekaterinburg for 41.95 million rubles, while in Belarus a restored water mill, already converted into an eight-room hotel, is being sold for 30.9 million Russian rubles.
