Sofia's Printing House To Become A Business Complex
Bulgarian real estate investment company - 'Bulgarian Land Development', in partnership with 'Northridge Capital' Limited - London, announced the purchase of 5 out of the 8 buildings, part of of the former state-owned 'Dimitar Blagoev'Printing House. The total area acquired by the joint venture is estimated at 29 000 sq.mThe industrial complex is located along the Tsarigradsko Shose in Sofia and was owned by the German media group 'Westdeutsche Allgemeine Zeitung'. 'Newspaper Group Bulgaria', publisher of the most popular newspapers in Bulgaria - '24 Hours' and 'Trud'.
The total cost of the deal are estimated at 50 million euro, while the whole project has been valued at 70 million euro.
The investors intend to reconstruct the industrial buildings and turn them into a first-class office & business complex. Office space is expected to be 23 500 sq.m and in addition, a 3 500 sq.m will be available for trade centre. The complex will also have a total of 241 parking places, 183 of which underground.
BLD and Northridge Capital Ltd. have already been granted a bank loan, which will cover 75 % of the project expenditures. The rest of the funds will be provided by the joint venture. Each company is to contribute 6,5 million euro to the development.
Reconstruction works are expected to finish by the end of September 2010.
We can certainly recommend this company. They are profesional and extremely helpful. You hear many frightening stories of foreigners getting ripped off in Bulgaria by rogue agents and con men. The owners of this company could teach the English estate agents a lesson or two in customer care. Nothing is too much trouble to them. The whole buying experience went extremely smooothly. They took care of setting up bank accounts for us, both personal and the required buisness account. Registering the property and sorting utility bills. During our search for the right property in Bulgaria, we dealt with many different estate agents and without doubt these were the most helpful and friendly. Unlike UK estate agents where you get met at the house of your choice and ten minutes of their time, with Bulgarian House, you are driven around a range of houses within your given budget. We have now owned our house for just over a year and in that time we have turned to Bulgarian House for help and advice and they always act on our requests. We would certainly recommend paying them to project manage any work as they can be trusted and it is worth paying what we have found to be amazing value for money. In summary we trust them 100%. I would say try Bulgarian House first and you won\\\'t want or need to try another agent. Steve & Ann. Lancaster, England
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