The two parties have been in talks for at least half a year, as Roth is trying to get funds to start the office space project. While the yield for logistics warehouses is about 9% on the market, in Oarja’s warehouse case it is lower because it was secured by Dacia.
Globalworth did not provide any comment on the information by press time.
Renault group is the only tenant of the 65,000-square meter facility Simon Roth has near Pitesti and the sale of the warehouse should give the investor the necessary funds to starting building the office space project in Western Bucharest, set to house only Renault.
According to information in the market, the asking price for the warehouse is EUR30 million to EUR40 million, so the yield is 7.5% to 8%, close to Central European yield of about 7.5%.
(English version by Loredana Fratila-Cristescu)