Third attempt to sell Kingfisher House fails

Third attempt to sell Kingfisher House fails

PTIUpdated: Thursday, May 30, 2019, 10:32 AM IST
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Mumbai : Lenders attempt to sell the erstwhile headquarters of defunct Kingfisher Airlines, Kingfisher House, in the city failed for the third time on Monday as none of buyers showed interest despite a 15 per cent cut in reserve price.

The prime property has a built-up area of over 17,000 sqft and is located in the plush Vile Parle area near the domestic terminal. “None of the bidders came and the auction of Kingfisher House failed this time also,” a source said.

The 17-lender consortium, led by State Bank of India had put on auction the property with a reserve price of Rs 115 crore, which was 15 per cent less than the second auction of the property held in August and 23 per cent lower than the first auction in March this year, reports PTI.

In the second auction in August, the reserve price for Kingfisher House was kept at Rs 135 crore, 10 per cent lower than the first auction of the asset in March when the reserve price was fixed at Rs 150 crore.

Both the auctions failed as bidders found the reserve price too high.

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