Helios Properties buys Mercury Logistic Park

The real estate investment company Helios Properties, based in the UK, bought the Mercury Logistic Park industrial project, located at kilometre 22 of the Bucharest-Pitesti highway. The developer of the logistics project is Phoenix Real Estate, a Greek-held company, and the broker of the deal was the real estate company Eurisko. The Mercury Logistic Park project comprises 190,000 square metres of land and 14,000 square metres of industrial space. It is in its first phase of development. “We paid 3.7 million euros for the built surface area and 38 euros per square metre for the land of this project,” Giles Scott, Helios Eastern Europe”s chief executive told ZIARUL FINANCIAR. All in all, the deal amounted to nearly 11 million euros. The tenant of the 14,000 square metres inside Mercury Logistic park is the retailer Minimax. This is the second largest acquisition deal on the industrial space market in Romania, after the Austrian Europolis fund bought the Cefin Logistic Park in a deal put at 65-70 million euros. Once completed, the Mercury Logistic Park should include approximately 100,000 square metres of industrial space. “Our intent is to finalise the project and then look for a potential buyer. We expect an annual yield of around 8%, during the final development phases. We are now in talks with several potential tenants,” Scott added. The company has already pre-rented about 12,000 square metres to its fellow UK logistics operator Delamode, inside the industrial project. ZF