AGREEMENT ON THE SALE OF THE DACIA ONE PROJECT
La Hulpe, 16 August 2021
ATENOR announces that an agreement has been concluded with Paval Holding, the owner of Romanian DIY retail business "Dedeman", for the sale of its Romanian subsidiary Victoriei 174 B.D. srl . The target company owns DACIA ONE, located in the historic centre of Bucharest. The share deal is subject to the usual conditions precedent related to the acceptance of the building and the installation by the tenants, which is scheduled for the end of September 2021.
The project includes two buildings: a listed historic monument (1,500 m²) and a new building (13,500 m²). DACIA ONE offers premium office spaces that meet the highest energy performance standards and aim for BREEAM "Excellent" and WELL GOLD certifications, similar to all the projects currently under development by ATENOR in Romania.
The excellent location and visibility as well as the technical specifications have attracted prestigious tenants such as ING Tech, Nöerr and ESS. The building is fully pre-let.
This sale confirms ATENOR's ability to deliver large- scale projects of the highest quality that meet the demand of local investors as well as international
tenants. ATENOR is taking full advantage of its urban real estate development strategy in Europe, offering sustainably positive economic fundamentals.
The positive impact of this agreement on results will be recognised in the second half of 2021. This sale will have a positive net impact on cash of around € 50M.
As a reminder, the present sale follows the sale of the company NGY srl, owner of the project Hermes Business Campus, on July 28th, 2021. ATENOR is continuing through its Romanian subsidiaries development projects in Bucharest: the office project @Expo (54,720 m²) for which the construction of the two first buildings is soon to be finalized. @Expo benefits from a pre-lease rate of 24% for the building B2 and discussions are being finalized concerning approximately 25% of the building B1. ATENOR activities also include the UP-site Bucharest residential project (31,250 m²), which commercialization is progressing favorably (54% pre-sales).
Following this sale, the number of projects developed by ATENOR amounts to 33 and represents an area of around 1,300,000 m². These are located in Brussels, Wallonia and Flanders (Belgium), The Hague (Netherlands), Luxembourg, in the Paris region (France), Lisbon (Portugal), Düsseldorf (Germany), Warsaw (Poland), Budapest (Hungary), Bucharest (Romania), as well as in London (United Kingdom).
ATENOR is an urban real estate development company with European expertise listed on the Euronext Brussels market. Its mission aims to provide, through its urban planning and architectural approach, adequate responses to the new requirements imposed by the evolution of urban and professional life. In this context, ATENOR invests in large-scale real estate projects meeting strict criteria in terms of location, economic efficiency and respect for the environment.
Bloomberg: ATEB BB
Pavăl Holding is a family-owned and leadership-inspired investment entity aiming to maximize valuable assets that underpin responsible businesses. The holding caters for investment opportunities that nurture larger societal value, beyond shareholders return. Pavăl Holding places its investments in multiple sectors such as DIY retail, real estate, private equity, agriculture, and other economic areas, seizing strategic opportunities for long term growth across industries and geographies.
For more information, please contact Stéphan Sonneville SA, CEO or
Sven Lemmes for Weatherlight SRL, Executive Officer.
+32-2-387.22.99 - +32-2-387.23.16 - e-mail :email@example.com- www.atenor.eu