Bulgarian Business Center Development Project For Sale

Business description

Economy
Bulgaria has one of the most stable economies on the Balkans as well as one of the best performing ones, with an average annual GDP growth of over 6%. Foreign investment has continued to grow since Bulgaria’s EU accession (January 2007) and coupled with an ever stronger domestic market is continuing to drive the economy forward.
Sofia
Sofia is the capital of Bulgaria and is the largest city in the country, with a population of over 1,5 mln. – a number that continues to increase each year, due largely to migration from other cities. Sofia is Bulgaria’s economic, administrative, political, cultural and education center, as well as the preferred destination for business and foreign investment. The city has the lowest unemployment rate, highest average salary and the most skilled work force in Bulgaria.
Description
The property is located in the city of Sofia, on the corner of Bulgaria Blvd and ringroad.
Sofia office
The office market in Sofia shows good potential for further development and is continuing the upward trend and steady growth rate in rental levels with average rental prices for Class A office space around EUR 12 month/sq. m excl. VAT. Demand continues to exceed supply and overall vacancy rates are at 4% for 1Q 2008. Buildings under construction are typically preleased during the development stage, indicating that the market has not reached its absorption potential. Class A office buildings are in demand and rental levels are projected to increase significantly in 2008 and in the following years.
Plot Size
4 500 sq. m

Proximity to Key Destinations
(by car)
Sofia airport: 30 min.
Sofia downtown: 10 min.

Infrastructure

• Water: available
• Sewage: available
• Electricity: available
• Telecommunications: available
Plot Size
4 500 sq. m

Owner
Company

The city zoning (based on the
designation of the area) is
as follows and available VISA for
construction
Coefficient of construction
(Kconstr) - 60%
Coefficient of intensity (Kint) - 3.5
Cornice height – not limited

Possible build up area:

- 18 000 to 20 000sq.m above ground level
- 5 000 sq.m underground level
AVAILABLE PROJECT IDEA
Offered price - 8 500 000 E