Romania’s One United Properties closes 40 mln euro lease deal

Under the deal, Tomcat Comserv is leasing a retail space spanning a gross lettable area (GLA) of 3,600 sqm on the ground floor of the One Gallery commercial project in Bucharest to operate a food market which will house 40 different operators, One United Properties said in a report filed with the Bucharest Stock Exchange.

The lease will begin in September 2025.

With a gross development value of 100 million euro, the One Gallery project is being developed at the former Ford factory in Bucharest, with the building's ground floor planned to host retail spaces and its first floor planned to house office spaces, One United said in a press release last month.

Tomcat Comserv is the operator of several brands including Treevi, Elephant, Sagakura, and BaoHouse. In 2023, the company booked a profit of 4.8 million lei ($1 million/964,378 million euro) on a turnover of 24.1 million lei, according to latest data published on the finance ministry's website.

One United Properties' stock traded 0.77% higher at 0.915 lei ($0.19/0.18 euro) as of 1149 on Thursday on the Bucharest bourse.

Established in 2009, One United Properties is a green investor and developer of residential, mixed-use, commercial and office real estate. In 2023, the company booked a net profit of almost 443.2 million lei ($96.1 million/89.2 million euro), down by an annual 12%.

One United Properties shares traded 0.11% higher at 0.882 lei as at 1305 CET on Friday on the Bucharest Stock Exchange.

($=0.9237 euro)