Auchan buys 2.7-ha former industrial platform plot in Bucharest

French retailer Auchan has bought half of the former industrial platform Tricodava in the Western part of Bucharest from Spanish Pryconsa in a multi-million euro transaction, according to law firm Popovici Nitu & Asociatii, which assisted Auchan in this deal. Auchan took over a 2.7-hectare plot and negotiated the deal for six months.
The retailer is yet to announce its development plans for the recently acquired plot. Auchan is already developing retail projects in Craiova – Electroputere Craiova, as well as in Polus Constana and Coresi Brasov. Auchan, which entered the Romanian market in 2005, had its most recent openings in Constanta and Craiova. Auchan already has two stores in Bucharest.
Spanish companies Gran Via and Pryconsa bought the former Tricodava industrial platform in the Ghencea neighborhood of Bucharest for EUR 42 million from investment fund Broadhurst. The Spanish companies initially planned a 2,000-apartment project for the 5.4-hectare land plot, but the economic crisis delayed the project. The land plot is opposite an existing Billa store and close to a Carrefour Market unit. (Romania-insider.com)