Estonian Central Bank cancels plan to sell the Maardu manor house

23.10.2012, 12:35

Estonian central bank Eesti Pank has given up plan it announced in the spring to sell the Maardu manor house, writes ERR.

Despite of the criticism made by supervisory board chairman Jaan Männik who said during the election of central bank president in the spring that it was not the bank’s duty to be a manor owner, the bank is no longer seeking to sell the manor house, but is looking at ways to earn more money from renting it out, according to the central bank’s press spokesperson Ingrid Mitt.

Eesti Pank acquired the manor house at the start of 1990 and has been using it for hosting its own events and allowed its executives to use if for private parties at very cheap prices.

Last year the bank spent 85,400 euros on the upkeep of the manor house, while earning about 27,000 euros in rent income.