Auction of the former Mikhailov Hospital, locating on land area of 20,633 square in the center of Tbilisi (Agmashenebeli Avenue 60) has failed several times.
National Agency of State Property has brought the asset for privatization 4 times. At the auction announced in November 2018, its starting price was GEL 35 million, and the investment commitment was GEL 100 million, but the auction failed.
Since then, 4 more auctions have been announced for the sale of the facility.
Finally, the auction was announced on March 30, 2021 and the starting price of the facility was GEL 39,800,000 and its investment commitment was GEL 40,000,000. With this amount, a commercial space or a hotel should be arranged by the buyer. However, none of the investors expressed interest in purchasing the facility.
Currently, the territory of former Mikhailov Hospital is abandoned. The territory of Mikhailov Hospital has been privately owned for some time. In early 2015 the building was transferred to LLC Agma. The investor then had to build a 200-room, 5-star hotel on the site, but the investment commitment was not fulfilled and National Agency of State Property seized the property from the investor and prepared the facility for re-privatization. But, every attempt to sell the property is unsuccessful.
