The location is unique, in the heart of the capital, at Universitatii Square - KM Zero of Bucharest - ROMANIA.
The existing old-stylish architectural building, benefits from a large opening to the main avenue of Bucharest.
Placed on a corner, with two avenues great openings and visibility (Bratianu Av. and Doamnei St), the building has a total constructed area of 3,130 sq.m, distribuited on UG+GF+5.
There are 2,270 sq.m above the ground out of which 430 sq.m on the GF.
The use of the building is retail (UG+GF) and office 1st - 5th floor.
The cost up-to-date is Eur 3 m+VAT (out of which Eur 1.7 m is debt to a local bank) and includes the acquisition of the building, project, engineering, new design and permitting as well as some soft costs.
The new partner shall finance the renovation works of Eur 1.2m +VAT.
The market value of the building once completed is Eur 7,000,000+VAT
The renovation works just started this month and, will be completed by the end of this year, 2013.
The building was an income generating asset before the renovation works started.
There are already some pre-leases in place, however the leasing is on process with international tenants interested to sign 5-10 year leases, due to the excellent location and visibility of the building as well as for the quality of the pedestrian traffic.
The annual net operating income once the building will be completed, is estimated at Eur 500,000 +VAT.
We do not charge the investor any commission, so you can call us for free, in order to organize a meeting with the owner.
