March 6 (SeeNews) - Bulgarian IoT products maker Shelly Group [BUL:SLYG; FRA:SLYG] said it has signed a 10-year lease agreement for a new office building in the capital Sofia, with room for up to 250 employees, as part of its growth plans.
The relocation of the company's nearly 140 employees should be completed by the end of September, Shelly Group said in a bourse filing on Tuesday.
The new headquarters will span 2,840 square metres and include 60 parking spots, Shelly Group said in a separate statement. They are located in the third building of the Business Garden Office X complex, which is still under construction.
Shelly Group will pay a monthly lease fee of 113,271 levs ($62,832/57,914 euro) or 13.59 million levs in total for the entire contract term.
The new office space is expected to provide sufficient capacity for the company's planned staff expansion until at least 2027, Shelly Group Co-CEO Wolfgang Kirsch said.
At the same time, Shelly is in talks to sell its current office building, which will unlock capital for further investments, Kirsch noted.
As of 1145 CET on Wednesday, shares in Shelly Group traded 0.68% higher at 59.00 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)