29th Aug 2014 11:46
LONDON (Alliance News) - Secure Property Development & Investment Limited PLC said Friday that it has agreed to acquire the EOS Business Park, a fully let income producing office building in Bucharest, Romania for EUR5.85 million.
The building is the Romanian headquarters of French multinational food company, Danone and is located next to the Danone factory on the north-eastern part of Bucharest.
The south eastern Europe-focused property investment company said the EOS Business Park consists of 3,386 leasable square metres of office space, as well as 90 parking spaces and generates a net operating income of around EUR600,000 per annum and is fully let to Danone Romania until 2026.
The acquisition is in line with Secure Property's strategy of achieving further growth and diversification of its property portfolio within the South East Europe region, with the EUR5.85 million acquisition to be funded through its own cash reserves and debt facilities, it said.
Shares in Secure Property Development & Investment were Friday trading 3.23% lower at 60.00 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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