Class A Office and Shopping Centre to Rise in Sofia
Sofia city will change its looks once again as a major investment group announced it has started the building of the first office and shopping centre that will offer for rent offices and commercial areas from class A only. Sofia Mayor Boyko Borissov was invited to turn the first sod of the construction of the centre.
BenchMark Fund Estates REIT is to build the 14-storey centre on an area of 6391 square metres. The building will have two trade levels for rent for stores and two-level underground parking with 400 parking spaces. The well-known architect Stefan Dobrev developed the project for the building. He had decided to add a classical look of the trading centre by constructing a 50 metres high atrium, the first one in Sofia. BenchMarks' strategy is to offer for rent the whole building to different companies. The company has appointed EUR 20 per square metre rent for the trading areas and EUR 10 to EUR 12 per square metre for offices.
The centre will be located on Tsarigradsko shosse, the capital's busiest boulevard that links directly to Sofia's downtown and the airport. BenchMark Fund Estates REIT is a licensed real estate investment trust for securitization of real estate. The Fund is aiming at structuring and professional management of the funds collected from multiple individual and portfolio investors and allocated in a balanced and diversified real estate portfolio.The company is established by four of the leading financial experts in Bulgaria.