One of the largest shopping complexes in Odesa, known as "Novy Privoz," has been officially put up for sale. The property complex, located on Panteleimonovska Street, will be the subject of electronic auctions scheduled for July 27, 2026. The starting price of the asset is set at 779.4 million hryvnias, excluding VAT. However, behind the dry figures of the auction documentation lies a complex web of legal encumbrances, debt obligations, and a long history of bankruptcy.
Lot economics: price below market
The shopping center is a five-story building with a total area of more than 23,360 square meters. Calculated per square meter, the starting price is about 33,400 hryvnias (approximately 740 US dollars). Commercial real estate experts note that this figure is significantly lower than the average market prices for properties in central Odesa. The difference is due to the specifics of forced liquidation within the bankruptcy procedure and the presence of serious legal risks for the future buyer.
Participation in the auction will require significant financial investment even at the registration stage. The security deposit is set at 10% of the starting price — 77.94 million hryvnias. The price increment during the auction will be 7.79 million hryvnias.
Who stands behind the bankrupt entity
The legal owner of the shopping center is LLC "Ukrbudspetskh," against which the Economic Court of the Odesa region has opened liquidation proceedings. The company is part of a group of assets controlled by Leonid Klimov — a former People's Deputy of Ukraine and ex-president of the "Chornomorets" football club.
The situation regarding the management of the facility appears complicated. Since 2014, actual management of the shopping center has been carried out by the company "Nova-Hvilia." The current tenant of the premises is LLC "Business Management Group." The beneficial owners of this company are Leonid Klimov's daughter and son-in-law. Thus, even under the conditions of the formal owner's bankruptcy, operational control over the asset remains in the hands of affiliated structures.
Main encumbrance: NBU mortgage
The key factor influencing the fate of the auction is the mortgage status. Since 2009, the entire property complex of "Novy Privoz" has been mortgaged. The mortgagee is the National Bank of Ukraine (NBU). The mortgage was issued for the refinancing of PJSC "Imexbank," which was subsequently declared insolvent and liquidated.
This means that the funds received from the sale of the shopping center will go not to the new owner, but to repay the debt to the regulator. According to the law, the sale of mortgaged property within the framework of liquidation terminates the mortgage rights of third parties; however, the priority of debt repayment to the bank remains.
Risks for the new owner: tenants and courts
The auction winner will face the need to interact with existing tenants. Long-term lease agreements concluded before the bankruptcy case was initiated retain their legal force. The new owner will automatically become the successor and will be obliged either to continue working with the current management companies under existing agreements or to initiate lengthy court proceedings to terminate them.
Thus, the purchase of "Novy Privoz" is not just the acquisition of real estate, but an entry into a complex legal game where the asset price may turn out to be only part of the real costs of putting the business in order.
