Until the 17th of August, interested entities can submit offers for the package of real estate properties put out for sale and lease back by Telekom Romania Communications.
The full package includes 24 properties in Bucharest and other seven cities in Romania: Bacău, Constanța, Oradea, Ploiești, Ramnicu Vâlcea, Sibiu and Timișoara. The deadline was extended in order to give the possibility to the potential buyers to prepare the necessary documentation, given the complexity of the package.
The offers can be submitted for the entire package of 24 properties and/or for a sub-package of 17 properties. The full package has a total usable surface of 46.500 m2 and a starting price of approximately 26.3 million Euros (VAT excluded), set by independent evaluators. The sub-package of 17 properties has a total usable surface of 35.100 m2 and a starting price of 21.6 million Euros.
The contracts with the current tenants will be taken over by the winner of the tender, without any changes of the terms and conditions, the latter thus having ensured a steady flow of income. In addition, Telekom Romania Communications will lease back certain areas of the buildings which host technical equipment, offices and commercial spaces, so that the transaction will not generate discontinuities in the activity of the company. The spaces leased back by Telekom Romania Communications represent 45% of the usable surface of the buildings for the 24 properties package and 48% for the 17 properties package. In addition, the spaces contracted by third parties represent approximately 17% of the usable surface of the buildings included in the 24 properties package, and 22% respectively of the buildings in the 17 properties package.
The offers must be accompanied by eligibility documents, including letters of guarantee. The winner of the tender will be established following the best offer in terms of price for acquisition, rental charge, cumulated with other relevant conditions.
The sale and lease back of the package of real estate properties is part of Telekom Romania’s strategy of capitalizing these assets. The amount that will be obtained from selling the package of properties will be directed towards investments necessary to develop telecom activities. In 2014, Telekom Romania sold 28 of its real estate assets, cumulating 11.6 million euro, the proceeds being allocated for investments in the core activity of the company.
More details about the package of real estate assets as well as the full list of properties in the portfolio put for sale or for rent are available on the company’s dedicated website at http://www.realestate.telekom.ro/ro/.