Sat, Jul 04 2009

40M euro retail park to open in north-east Bulgaria

Fri, Sep 05 2008 20:39 CET bySvetlana Guineva 96 Views

Real estate investment company Greenfield Bulgaria, operating in Bulgaria and Romania, plans to invest 40 million euro in building a commercial park in Turgovishte, investor.bg reported.

The planned park is 100km north-east of Veliko Turnovo. According to the company's executives, the park will occupy a 92 000 sq m land plot, strategically situated near Turgovishte's ring-road and the highway connecting Sofia and Varna.

A mall, a number of hypermarkets selling food, electronics, construction supplies and furniture, a petrol station and a fast-food restaurant will all find place within the park's compound, with an envisioned 40 000 sq m built-up area.

For the convenience of all customers, a parking for 1200 cars has also been planned.

The company said it expected to obtain a building permit by the end of 2008. The completion deadline was set for 2010, investor.bg said.

Architect of the project is London-based studio Chapman Taylor, which was involved in the design of recently opened Mall Varna.

According to Greenfield executives, the annual return on investment was expected to be 8.5 per cent.

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