Secure Property Development & Investment (SPDI), a real estate investment company registered in Cyprus and listed on the AIM market of the London Stock Exchange, announced that it will buy the EOS Business Park in Bucharest for €5.85 million. The office building hosts the Romanian headquarters of French dairy group Danone.
Primavera Development, a real estate development company owned by Romanian businessmen, currently owns the office building.
The EOS Business Park consists of 3,386 leasable sqm of office space, as well as 90 parking spaces. It generates a net operating income (NOI) of about €600,000 per year and is fully let to Danone Romania until 2026, according to SPDI. The building is situated next to the Danone factory on the Northeastern part of Bucharest.
This is the second acquisition for the real estate company in Romania this year. At the beginning of this year, SPDI also bought the Innovations logistics park in Bucharest for €12.6 million. The logistics park, which is situated in Clinceni, close to Bucharest, has 17,000 sqm of gross leasable area and is fully let and generates €1.3 million operating income per year. Its main tenant is Nestle, which leases more than 60 percent of its surface.
The acquisitions are in line with the company’s stated strategy of diversification of its property portfolio within the South East Europe region.
“As we continue to raise funds from investors we intend to put the proceeds to work in the acquisition of similar assets with a view to generating substantial income, providing a dividend to our shareholders and becoming a leading regional property company in South Eastern Europe,” said Lambros Anagnostopoulos, CEO of Secure Property.