Russian Post decides the fate of its historical buildings

Russian Post has created a working group to resolve the issue of the further use of large real estate assets that are on the company’s balance sheet. About this in an interview with Vedomosti told its general director is Mikhail Volkov. According to him, the company is now collaborating with specialized participants in the real estate market to formulate a strategy for working with such assets. The proposals generated by this group will be considered by the board of directors of Russian Post, he added.

We are talking mainly about cultural heritage sites and architectural monuments located in city centers, Volkov clarified. As an example, he cited the complex of buildings of the Main Post Office on Myasnitskaya Street (the former Moscow Imperial Post Office and Telegraph, 37,000 sq. m) in the center of Moscow and the Main Post Office (26,000 sq. m) in St. Petersburg. “It’s very difficult to simply rebuild them, and you need to invest a lot of money – much more than in a simple object, because there are a lot of requirements and restrictions,” said Vedomosti’s interlocutor. He did not explain how many such objects are on the company’s balance sheet in general. One of the consultants indicates that there are about 30 of them. The Russian Post strategy until 2030, approved in May 2021, stated that the company’s total property fund used in current activities consists of 81,700 objects.