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BIP Skadarlija Complex

30-08-2007

BIP Skadarlija Complex




Introduction
The former site of the Belgrade-based beer producer, BIP, was sold in the summer of 2006 to the Italian firm, Star Immobiliare, for just over 10 million Euros. The site is very attractive due to its prime location in the centre of Belgrade, where it is adjacent to the Bohemian quarter of Skadarlija. The complex includes over 14000 square metres of land area. In the August 2007, the project was acquired by Equest Balkan Properties for just over 20 million Euros. An initial advance of 5 million Euros will be provided to Star Immobiliare by August 10th, 2007. The remaining 15 million Euros will be paid once Star Immobiliare has secured the necessary permits to enable the Skadarljia Street property to be developed into 90000 square metres of mixed-use retail, office and hotel space. Equest Balkan Properties is an experienced investors in Southeastern Europe. It is the owner of the Tehnomarket chain of electronic stores, which are present in both Serbia and Bulgaria. Furthermore, the company is traded on the London Stock Exchange.



Investor
Equest Balkan Properties



Location
The project is located in centre of Belgrade, in near to Skadarlija street



Size
90000 square metres of office, retail, and leisure space



Deadlines
Unknown
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