Ellipse Center, on office building to be sited on Sofia's east-bound Tsarigradsko Shose boulevard, has been put up for off-plan sale at a minimum price of 15 mln euro, said Dian Diakov, office space manager at Regent s Property Advisors.
The office building, with a built-up area of 19,000 sq m, will be flanked by the outlets of German retailer Metro Cash&Carry and local electronics retailer Technomarket.
Ellipse Center, funded by Belgium's Ilpa SA, should welcome its first tenants in late 2009.
A couple of options for the sale of the business property are being considered.
The project could be sold off-plan together with all relevant construction permits or it could be listed after it is fully-tenanted at a higher price, said Diakov.
Regent s Property Advisors, an AG Capital company, also has the listing for an office building on the Alexander Stamboliiski boulevard in the capital's downtown, near the sofia.html">Mall of Sofia. Half of the building's 4,200 sq m of lettable office space is already tenanted. The asking sale price is 6.5 mln euro, said Diakov.
The realty advisors also market for lease and sale the Grammy mixed-use development which will be located near sofia.html">Business Park Sofia in Mladost 4.
The 25,000 sq m complex will comprise two residential buildings, a 24-floor office high-rise, hotel and retail center. Local company Grigo-X is funding the project.
Some 9,000 sq m of office space should place on the market in Sofia by mid-2008, said Diakov. A fifth of the supply will be marketed to buyers off-plan.
According to him, office vacancies currently stand at around 10%.
Supply of office properties for rent at 6-7 euro/sq m per month has virtually dried up and now most of the listings are in the 13-16 euro/sq range |
Bulgarian Property
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