The second auction for the property privatization of the non-functioning Lviv Penal Colony (No. 48): participants increased the price to UAH 30 million

On June 3, 2021, the second auction for the property privatization of the non-functioning Lviv Penal Colony (No. 48) (lot No. 2) took place, according to the results of which the State Budget should receive UAH 30 million.

The right of the asset’s ownership was competed for by nine participants, who increased the price more than 8 times from the starting UAH 3,386,294 to UAH 30,000,000.

The privatization object is located in 4, Khutorivka St., Sykhivskyi district, Lviv city.

As previously reported, the first auction for the property privatization of the non-functioning «Lviv Penal Colony (No. 48)», which is located nearby – 2, Khutorivka St. Seven participants of the auction increased the price of the asset almost three times from the starting price - up to UAH 377.5 million.

The privatization of the property of Lviv Penal Colony (No. 48) took place within the framework of the joint project of the State Property Fund and the Ministry of Justice called «Large-scale Privatization of Prisons», which provides for the property auction of 35 non-functioning penal colonies, located throughout Ukraine, often in central cities. 70% of the proceeds from the privatization of these objects will be used to build new penitentiaries, with modern conditions of detention.