Day Group puts up for sale office building in downtown Bucharest

Greek developer Day Group has put up for sale the Day Tower office building located on Unirii Boulevard, next to the Bucharest Court. The asking price for this project is EUR 35 million, Ziarul Financiar reported.

“In principle, we want to sell Day Tower for at least EUR 35 million, but we don’t have a firm buyer, only talks,” said Dimitris Mourkakos, co-founder Day Group.

Day Tower is leased to Italian utility group Enel for a period of 10 years. The building has a leasable area of 10,800 sqm of offices and 800 sqm of retail spaces at the ground floor. If the building sells for EUR 35 million, it will be the first office property in Bucharest to sell at a yield of 6.5% in the last 12 years, Ziarul Financiar has calculated.

Day Group plans to invest in other office projects. The group has also developed residential projects in Bucharest.

(Photo: daytower.ro)