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Bank of Cyprus building sold

Alex Hayes 06 November 2018

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Bank of Cyprus building sold
The building has a net useable area of 2,283 sqm
ROMANIA The Bank of Cyprus building on Calea Dorobanti in Bucharest has been sold by SIF Banat Crişana to an undisclosed Romanian buyer.

Crosspoint, the real estate consultancy that represents Savills in Romania, negotiated the original acquisition of the building by SIF Banat Crişana and its later sale to its new owner.
The property, which was built in 2005, has a gba of 2,800 sqm and a net area of 2,283 sqm. Previously the building was used exclusively by the Bank of Cyprus.
Codrin Matei the managing partner at Crosspoint stated: "Such properties are rare on the market, the demand being high, from many investors. The former Bank of Cyprus’ headquarter is located in a sought-after area, with a floor plate suitable for smaller companies, and if we also consider the value of the transaction, all these factors created the ideal product for a private investor who intended to secure a trophy asset. We are in touch with several businessmen, who have sold part or all of their businesses developed over the years, and now they are interested in placing their earnings in such assets. We have several active sales mandates for other office buildings, products that are likely more suitable for investment funds, but we have noticed that private investors can be more competitive than such institutions, that have certain criteria, which often can be too rigorous for the market today."


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