Future of Zsar shopping center in Virolahti remains uncertain after sale delay

Thursday 26th September 2024 on 06:39 in Finland

The future use of the former Zsar shopping center in Virolahti remains uncertain. Earlier this week, Yle reported that the sale of the bankrupt shopping center has been delayed due to the buyer’s failure to pay the purchase price, according to the estate administrator, lawyer Matti Manner. Outi Silander, the acting municipal manager of Virolahti, stated that she has no further information on the reasons for the delay.

We inquired with the municipality about potential developments allowed under the current zoning regulations for the shopping center. Presently, the zoning allows for specialty retail stores and associated service facilities, but converting the property into residential buildings is not permitted. The shopping center encompasses approximately 12,000 square meters. Any changes to the zoning would require a decision from the municipal council.

In August, an offer for the lavish Zsar shopping center, located near the Vaalimaa border crossing, was accepted, although details about the buyer and the purchase price have not been disclosed. Silander noted that the municipality has not pursued any changes to the zoning related to Vaalimaa, and there are currently no compelling reasons to revisit the issue.

Local residents interviewed expressed various ideas regarding potential future uses for the shopping center site, but the ultimate plans remain unclear as the future direction of the property waits to be determined.

Source 
(via yle.fi)