Stella Julia Hatzl

IMMOFINANZ: building update from Bucharest and large-scale leasing for Ploiesti

At the end of last year, in winter, we communicated the launch of our new Bucharest office project, Metroffice – now that the temperatures are more pleasant and the light better, it's time for a (photo) update.To be completed by the end of 2015, the work on the shell for Metroffice shell is now fully underway. The pictures attached below show the construction progress: on the one side you see the shell, on the other the creation of the layer of blinding concrete – every day the view is different; now more of the second structural element can also be seen.

A reminder: for Metroffice approx. 40,000 sqm of lettable space is planned, with nearly 20,000 sqm of it to be completed in the first phase. At the same time, this is the start of the long-term transformation and expansion of the existing Iride Business Park into a modern urban quarter called Iride City. The investment volume for the first building totals around EUR 34 million.

But there's something new happening in more than just the office business - with regard to logistics we were also able to report a large-scale leasing recently. The retailer Profi has nearly doubled the space it leases in our logistics centre LOG.IQ Ploesti and is now leasing over 27,000 sqm. On the one hand, the existing agreement for around 15,100 sqm has been extended. On the other hand, an agreement has been concluded for an additional 12,000 sqm, which will be completed in the course of the second building phase of LOG.IQ Ploesti and handed over at the beginning of 2016. This second phase encompasses approx. 15,000 sqm – and thanks to Profi already has an advance leasing rate of 80%.

Pictures: Sentient (Project and Cost Manager)