Telekom Romania’s ‘Tandem Building’ for sale starting EUR 8 mln

Georgiana Bendre 20/10/2017 | 12:52

Telekom Romania Communications has organized on October 20 a meeting with more than 30 real estate investors to present in detail the sale offer for the property called “Tandem Building”, on 5th Matei Milo street, in Bucharest. Following this meeting, the company will complete the bid book necessary for the tender, which is scheduled to start on November 1 by closed envelope procedure. The call price is estimated to EUR 8 million.

The ‘Tandem Building’, located near the Telephones’ Palace, is composed of an urban land lot of 4,740 sqm and of constructions with a built surface imprint of 2,030 sqm which include an offices building, 2 underground levels, ground level and 7 floors plus annexes. The total useful surface of the property is 13,250 sqm.

Telekom Romania Communications takes into account the sale and subsequent rental by the company of a space within the building which will be built by the buyer on the existing footprint or the classic sale (land and building).

The market value for this building has been set by independent assessors and the winner of the tender will be the entity with the best offer in terms of both price and the other relevant conditions.

Recently, Telekom Romania Communications has completed the sale of another property in the same area in Bucharest in the first district, comprising of a land lot of 1,783 sqm, with a call price of over EUR 3.3 million. In 2017, Telekom Romania Communications has monetized 23 properties, whose total value reached EUR 10 million.

In addition, Telekom Romania started the administrative procedures for obtaining construction authorization for consolidation works for the Telephones’ Palace building. At the completion of the consolidation works, the Telephones’ Palace will be used as working space for the employees of the company, but is also taken into consideration the rental of the space to potential customers on the market.

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