One United Properties held 30% of the shares of One Herăstrău Office Properties S.A., which, in turn, held 66.67% stake in One Herăstrău Office S.A.. The participation was acquired in June 2020 at a valuation of the building of 15 million euros.
One Herăstrău Office building is located in the Northern area of Bucharest, and it is currently 100% leased. The building has a total leasable area of 8,074 sqm and offers modern office space with BREEAM certification which reflects the high degree of sustainability of the building.
”One Herăstrău Office building has reached full occupancy since the first part of last year, which confirms the current trend of companies' demand for modern and certified offices. The local investment market continues to be attractive, following a record 2022 in terms of transactions, with increasing liquidity and significant potential to attract new investors. At the same time, the sale of the stake in One Herăstrău Office represents an investment process with added value for our company”, said Mihai Păduroiu, CEO Office Division One United Properties.
One Herăstrău Office has 7 floors + ground floor and 3 underground floors for parking spaces and is located in the North of Bucharest, in an exclusive area with lots of greenery, very close to Herăstrău Park. The building is BREEAM certified and benefits from an innovative solution with photovoltaic panels integrated into the facade and on the roof, which contributes to the substantial reduction of energy consumption, an air conditioning solution with radiant ceiling, but also a useful upper height of at least 3 m, all these providing a great end-user experience.
Among the companies based in the building are Dr. Reddy's Pharma, Grupo Confrasilvas, Stratulat Albulescu, as well as TechVentures Bank, which in addition to the office space in the building, has implemented on the ground floor of One Herăstrău Office an original concept of banking unit, together with TED'S Coffee chain, combining the business atmosphere with the relaxing one.
Following the sale of stake in One Herastrau Office Properties S.A., the company's office portfolio will amount to 130,000 sqm GLA and it includes One Tower, One Cotroceni Park Office Phase 1 and Phase 2, One Victoriei Plaza, One North Gate and Eliade Tower. Together with the retail component, One United Properties’ commercial portfolio, which includes Bucur Obor and One Gallery, will reach a GLA of approximately 172,000 sqm.
ONE UNITED PROPERTIES (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings, and has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange and its shares are included in multiple indices such as BET, ROTX, STOXX, FTSE Russell Global All-Cap, and FTSE EPRA Nareit EMEA Emerging.
