Construction companies Apolodor and D&G Profil have in the past two months worked intensely on the building set to be completed next summer. The building is located in Bucharest’s historic center, which has seen a spectacular development on the restaurant and coffee shop segment in the last few years, but where retailers have not found appropriate locations for large stores.
“All major fashion companies are looking at the historic center, and 30-34 Lipscani Street (the address of Cocos’s building i.e.) is one of the few buildings that can offer large spaces per each floor and the right partitioning, as it was built from scratch,” says a retail consultant.
Rent in the area starts from around EUR30 per square meter and can exceed EUR70 per square meter for spaces of around 100 square meters, so revenues from renting the building could amount to over EUR600,000 per year. Alin Cocos could not be reached for comment.
(English version by Daniela Stoican)