Praktiker store in Craiova sold for 10m euros

Real estate investor Bluehouse Capital, one of the major office space owners in Bucharest, paid nearly 10 million euros for the land and the 8,300 square-metre building of the Praktiker store in Craiova, in this year’s first real estate transaction, according to ZF information.

The store was held by Cypriot businesspeople Savva Stylianos and Panayi Panayiotis through Omilos Investments, with the two investors also being involved in developing ERA shopping parks in Oradea and Iași.
“Bluehouse bought the Praktiker store in Craiova for nearly 10 million euros,” sources from the real estate market told ZF.
Omilos representatives said they were in negotiations to sell the store, but did not provide additional information, while Bluehouse representatives did not comment on the information.
The Craiova store brought Omilos Investments 3.7 million RON (0.87 million euros) in revenues in 2009, with the buyer’s return on the investment amounting to around 9% in euros per year.