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Spanish company negotiating sale of Tricodava to Auchan

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12.04.2011, 23:47 45

Former industrial site ofTricodava in Bucharest's Drumul Taberei district is once again forsale, with French group Auchan negotiating the acquisition of halfthe 5.4-hectare plot held by a group of Spanish investors. Thetransaction could be worth between 15 and 20 million euros, sourcesfrom the real estate market told ZF.

Spain's Gran Via andPryconsa bought the Tricodava platform in the summer of 2007 for 42million euros, nearly 800 euros/ square metre, from Broadhurstinvestment fund, run in Bucharest by Siminel Andrei. The twocompanies were planning to develop a project with over 2,000apartments, but the crisis hindered their plans. Subsequently, thetwo companies put an end to their partnership and divided theplatform into two equal plots.

Now, Pryconsa is looking for abuyer for its plot, with France's Auchan, which has in the past fewyears expanded fast, negotiating the acquisition at a price ofaround 600 euros/square metres.

Auchan and Pryconsarepresentatives did not comment on the information by editionclose.

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