The lease agreement is signed with Tomcat Hospitality to operate a modern food market concept within One Gallery, which will house over 40 different operators offering premium products in various formats under one roof. The lease term is 17 years, and the contract value amounts to EUR 40.14 million excluding VAT.
One United Properties is currently carrying out restoration works at One Gallery, the former Ford factory, which the company acquired in 2022 with the aim of restoring and bringing it back to public use, transforming it into a vibrant destination and a must-see landmark on any visitor's agenda in Bucharest. Once the restoration work is completed, One Gallery will open as a retail and office space, an integral part of the multifunctional development One Floreasca City, enhancing the range of commercial services for both residents and the entire local community. One Gallery will feature 14,333 sqm of commercial space, with the estimated delivery date of the restored building set for the third quarter of 2025.
Tomcat Hospitality, a group with around 40 restaurants and 15 million euros in business last year, operates well-known restaurant brands such as Treevi Pizza al Taglio, Élephante, and Sagakura, among others. With the facilities to be opened within One Gallery, Tomcat Hospitality aims to offer not only local experiences, but to bring a new breath to the gastronomic scene in Romania, positioning Bucharest alongside other prestigious European cities by premiering an innovative premium food hall. The food hall will become a vibrant culinary hub, attracting the local community and tourists, promoting local small businesses and offering culinary experiences enriched by performances, cultural events and interactive activities.
"The restoration of One Gallery and our partnership with Tomcat Hospitality represent an important step in revitalizing this historic space and transforming it into a vibrant social scene. Our partnership is based on shared values of excellence and innovation, and we are confident that this project will significantly enhance the local gastronomic offering. Our goal is to find the right partners with whom we can shape One Gallery into a meeting and exploration place for the community", stated Mihai Păduroiu, CEO Office Division at One United Properties.
"We are extremely excited to start this new chapter alongside One United Properties, in a project that uniquely combines history and modernity. One Gallery is not only a meticulously restored building but also a space that provides the perfect setting for our vision of bringing high-quality gastronomic experiences to the heart of the city. Through this partnership, we aim to offer a wide range of culinary options that cater to the diverse needs and preferences of Bucharest's residents", added Cătălin Gheorghe, co-founder and CEO of Tomcat Hospitality.
One Gallery will complement the range of services within the multifunctional development One Floreasca City, providing all residents, tenants, and neighbourhood residents with an extended array of commercial facilities. The gross development value for One Gallery is currently estimated at 100 million euros, making it the largest private investment in the restoration of a historic building in Romania.
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, STOXX, MSCI, FTSE, ROTX and CEEplus.
