The historic Maardu Manor complex, which had been on offer since 2015, was sold for €851,000 to the company Autokanal OÜ.

"You could definitely say 'finally' when it comes to the sale of Maardu Manor, as we had tried to sell it in various ways for over ten years," said bank governor Madis Müller.

He said it made sense to sell the residence as the central bank does not use the manor and it was not essential to its core activities.

Maardu Manor was put up for sale in February 2015 for €2 million, and a year later the central bank lowered the price to €1.5 million.

The property returned to the market in 2024, priced at €1.05 million, which dropped further at auction this year with a starting price of €700,000.

According to the commercial register, the buyer, Autokanal OÜ, is engaged in the purchase and sale, rental, repair, washing and cleaning of vehicles, as well as towing services.

The Bank of Estonia purchased the Maardu manor complex, located in Maardu village, Jõelähtme municipality, Harju County, in 1993.

The manor has belonged to several well-known Baltic German families and the complex consists of five historical buildings and a relatively well-preserved manor park with old-growth trees.

After the sale of Maardu Manor, the central bank's only remaining property is the building complex on Estonia puiestee in Tallinn.

Around 20 of Estonia's historic manors are looking for new owners, but sellers say buyers are difficult to come by due to their complex conditions and pricey renovations.

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