Sat, Jul 04 2009

European Trade Center to be ready in 2010

Tue, Jun 03 2008 15:32 CET bywww.propertywisebulgaria.com 145 Views

European Trade Center, an office complex whose construction is already underway on Tsarigradsko Chaussee in Sofia, would be completed in 2010 and should bring seven per cent return on investment, investors in the project told reporters on June 2, as quoted by Dnevnik daily.

The complex would have a total built-up area of 70 000 sq m, making it one of the largest in Bulgaria and comprising a tenth of modern office space currently available on the market, Colliers International, the consultant of the project, said.

The floorage of the five buildings in the complex would vary from 7 000 to 23 000 sq m. One of them would fall in the skyscraper category with a height of 65 m, chief architect of the complex Ilian Iliev said.

All buildings would be built in line with high energy efficiency requirements and would offer class A office space.
 
One of the five buildings has already been rented out, Anton Slavchev of Colliers International said, as quoted by Dnevnik daily. The average rental would be 14.5 euro per sq m, which is within the current going rate of 12 to 18 euro per sq m.

The complex adjoins the trade-entertainment complex of Carrefour, whose construction is also underway. The complex was recently sold to Greek Assos Capital.

Alongside Carrefour, the complex would be among the largest in Sofia sprawling on a total acreage of 5.35 hectares. It includes three underground levels of parking lots.

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