August 24 (SeeNews) - The Bulgarian unit of German supermarket chain Kaufland acquired Sofia's central market hall Tsentralni Hali for 34.8 million levs ($17.7 million/17.8 million euro), in preparation to opening a new store within months, business daily Capital reported.
Kaufland Bulgaria took over the 3,435 square metre building and the 0.7 ha land plot from its former owner, Israeli company Ashtrom, at the end of July, Capital said on Tuesday without citing the sources of its information.
The transaction had been reportedly awaiting approval from Bulgaria's National Institute of Immovable Cultural Heritage (NIICH) and the ministry of culture, after Kaufland revised the conceptual design of its overhaul project in late 2021 following recommendations from the two institutions.
The retail chain intends to invest some 50 million levs in the project, according to its initial proposal made last year. The overhaul foresees the restoration of the building's facade, roof and amenities, as well as the restructuring of the commercial areas inside the market hall while safeguarding or restoring original features. Kaufland Bulgaria also proposed to install stands for small and medium-sized food and beverage businesses inside the future store.
Kaufland's latest new store in Bulgaria's capital, a hypermarket near Business Park Sofia, opened in June, taking to 12 the company's stores in Sofia and 62 in Bulgaria as a whole.
Tsentralni Hali was opened in 1911 as Sofia's first modern covered market for meat and dairy products, fish and vegetables.
Kaufland entered the Bulgarian market in 2006. The company is part of Germany’s Schwarz Group, which also operates the Lidl retail chain in Bulgaria.
(1 euro = 1.95583 levs)