Dutch investors relaunch iconic store in central Bucharest after EUR 6.5 mln investment

The Bucuresti department store, an iconic building in downtown Bucharest with a history of over 90 years, will be re-launched after undergoing a EUR 6.5 million reconstruction process.

The new owners, Dutch investors Gerard Heinen and Baakman Johannes Jozefus Maria, paid EUR 4 mln to the former owners, and turned it from a department store into a multi-purpose centre that includes offices, retail spaces and restaurants.

The store is located at the intersection of IC Bratianu and Lipscani streets close to Bucharest’s Old Town.

The building has a total lettable area of approximately 3,150 sqm, spread over seven levels, which can accommodate tenants from the retail area, offices and co-working spaces, as well as services.

“The building preserves the former façade and reintroduces emblematic elements of the original architecture, modernized to suit the new design, such as the blind above the ground floor, the central glass axis to the main facade and the curved glass shopping windows, unique at the time of construction. At the same time, the new store still bears traces of its rich history, integrating original elements partially recovered during the demolitions, such as floor tiles, various ornamental metal elements from the curved windows and marble elements,” said Radu Moldoveanu, the owners’ representative.

Discussions for space rental are already ongoing. Real estate consultancy firm Colliers International is the exclusive agent.

(Photo source: the company)