Warehouse owner P3 reportedly looking to sell land plot near Bucharest

International real estate investor P3, a major warehouse owner in Romania, reportedly plans to sell a 16-hectare land plot in Dragomiresti Vale, close to Bucharest. P3 previously planned to build an 80,000-sqm logistics park there. The group is looking to get at least EUR 6 mln for the land, sources familiar with the deal told Profit.ro.

Belgian group WDP, the second-biggest storage space owner in Romania, is reportedly analyzing the acquisition. WDP owns in the vicinity a logistics park with an area of about 85,000 sqm, leased to tenants such as Aquila or Sarantis.

P3 bought the land in 2018 to build its second logistics park in Romania. The company now aims to sell it at a price exceeding EUR 35 per sqm, above the level of EUR 29 per sqm paid in 2018, according to Profit.ro sources. P3 refused to comment about the rumors.

"We do not comment on market speculation. Romania continues to be an important market for the P3 group. P3's operations and leasing activity in Romania registered a very good evolution in 2020, reflected in the approximately 140,000 sqm we rented this year, and the new facilities brought to the P3 Bucharest A1 park: train access on site and a canteen-restaurant of 400 sqm. We have confidence both in the market's development potential and in that of the P3 business in Romania," Sînziana Pardhan, managing director of P3 Logistic Parks in Romania, told Profit.ro.

(Photo source: the company)