Lidl buys EUR 2.3 million plot in Bulgarian town of Plovdiv
02 October 2009
Bulgarian real estate fund FairPlay Properties and Lidl Bulgaria signed a deal on the sale of a 22 000 sq m plot in the Bulgarian city of Plovdiv on September 30 2009.
Lidl Bulgaria is the local arm of German hard discounter Lidl, part of Schwarzgruppe.
The transaction had a price tag of 2.3 million euro before value-added tax.
The plot would accommodate a Lidl supermarket and was part of the chain's local expansion efforts.
The retailer has been actively growing its Bulgarian network with new outlets in Lovech, Pazadjik, Pleven and Silistra currently under construction.
The Plovdiv plot is part of FairPlay's Retail Park Trakia developmen, which is planned in the city's residential area by the same name.
Fairplay said the park would house a hypermarket of a renown European non-food chain, though the company refused to name the chain.
Sources told Dnevnik that the property fund was in talks with several big retailers but pen had not put to paper yet.
FairPlay would use the proceeds of the sale to reduce its credit exposure, executive director Manyu Moravenov said.
After the Plovdiv deal, Fairplay has repaid 5.4 million euro in principals since the start of 2009.
Source: Dnevnik.bg
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