Investment fund Interprime Properties, part of the Inter IKEA Group has bought a two-hectare land plot in Basarab overpass area of Bucharest, near Carrefour Orhideea, according to Colliers International Land Division, which intermediated the transaction.

This is the second acquisition for Interprime Properties after the purchase of the plot formerly used by Timpuri Noi factory.

Interprime Properties bought the land plot from Baduc, a construction materials retailer, that will relocate to other locations in Bucharest. The area has potential for an office development, but Interprime is yet to announce what is plans to develop on the recently-acquired plot.

“The transaction confirms the office potential of the area along Basarab Overpass, which facilitates the access to Victoriei Square and the Northern area. The transacted land plot is situated right at the middle of the overpass, having direct access through the ramp that comes down on Calea Plevnei”, according to Mihai Bogza, Associate Director within Land Division of Colliers International.

Interprime bought the Timpuri Noi industrial platform in Bucharest for some EUR 34.6 million.

Corina Saceanu, corina@romania-insider.com