Hornbach sells part of 20m-euro land

German group Hornbach could derive profit for the first time on the Romanian market from a real estate deal, as the retailer is planning to sell part of the 150,000 square-metre plot on DN1 (National Road1), which it acquired last year for 20 million euros. Less than half the plot will be used for a 24,000 square-metre DIY Hornbach store, which is scheduled to open at the end of next year. The Germans bought the land about a year ago from two companies that had entered bankruptcy procedures – Salonul Auto Victoria and Prisma Town. The plot currently accommodates the buildings of the former Prisma complex. “So far, several furniture, electronics retailers, as well as an outlet store developer have shown an interest in the plot,” said Dan Badescu, Hornbach’s expansion manager in Romania.