Oily Rocks, Caspian Sea, Azerbaijan

One Bedroom Apartment

Buy yourself a piece of Soviet history. This refurbished apartment is located in a multi-storey concrete building balanced on an elevated platform towering high above the Caspian Sea.

Oily Rocks, the world's first offshore oil field, was constructed in the 1950s and 60s, a triumph of Soviet engineering steeped in the ethos of the heroic worker. Oily Rocks is a landless city stretching 50km over the Caspian Sea, its elevated roadways snake like fairground rides between the platforms and multi-storey buildings, which until recently housed two thousand workers.

Despite the fact that the water level of the Caspian Sea has risen over six metres in the past 50 years, causing much erosion of the gantries and crumbling of the lower floors of the housing blocks, which is reflected in the generously low asking price, the property boasts access to an onsite gourmet restaurant and a redeveloped state of the art games room. There are employment opportunities on the mainland (but no longer in the oil industry as the oil fields dried up several years ago).

Major restoration work is planned to commence in July 2053, thus the property represents a substantial investment opportunity.

The apartment features a lounge and separate fitted galley kitchen with sea views.

Suitable for a couple or single person. No children or pets allowed

Location: Convenient for the mainland shopping facilities.

Viewing essential

(by special arrangement only. Access by boat from the mainland.)

$79,995 SHARE OF FREEHOLD