March 24 (SeeNews) - Romanian real estate developer One United Properties [BSE:ONE] said on Thursday it has concluded a pre-sale purchase agreement with Auchan Romania for a building located in Bucharest.
The building, which is estimated to be commissioned two years after the purchase date, has an estimated Gross Development Value (GDV) upon completion of 82 million euro ($90 million), One United said in a statement filed with the Bucharest Stock Exchange, BVB.
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A building permit has already been issued to Auchan Romania, and the construction will start immediately. The building will have a gross leasable area of approximately 13,000 sq m and 400 parking spaces on two underground floors.
The acquired building is a former Ford factory, built in the 1930s.
One United Properties was founded in 2007 by Romanian entrepreneurs Victor Capitanu and Andrei Diaconescu.
Blue-chip One United's shares were changing hands 1.07% higher at 1.3280 lei ($0.3/0.27 euro) as at 0953 CET on Thursday on the BVB.
In February, Romania's anti-trust body approved One United's takeover of a 54.43% stake in local shopping centre Bucur Obor SA.for 65 million lei.
(1 euro=4.9459 lei)
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