The Ministry of Transport and Infrastructure leased at auction 3,780 sqm in the London office building of the Sema Parc project in Bucharest. According to the developer, River Development, the ministry is the office building’s first anchor tenant.

The contract provides for the lease of a compartmentalized and fully furnished office space with an area of 3,780 square meters necessary for office activity and 90 underground parking spaces. Financing is provided by non-refundable European funds.

Thus, the roughly 200 employees of the ministry’s structures that manage European funds, as a management authority and intermediate body, will carry out their activity from offices arranged on three floors of the London building starting in September.

The London office building is one of the newest class A office buildings in Sema Parc, completed in the second quarter of 2022. It has a total leasable area of 21,347 sqm on 15 levels and two basements that host the parking spaces.

“We are pleased with the favorable result and, above all, with the fact that our first confirmed ‘anchor’ tenant in the London building is a public institution,” said Tina Virlan, Lease Manager, River Development.

River Development is a real estate investor and developer with Romanian capital, with over 18 years of activity in the local market. It is developing two of Bucharest’s major urban reconversion projects: Sema Parc on Splaiul Independentei (around 1,000,000 sqm GBA) and The Light on Iuliu Maniu Boulevard (around 150,000 sqm GBA).

The developer has over 150,000 square meters (GLA) of office space in its portfolio and has delivered over 38,000 sqm of new class A buildings in the last four years within the Sema Parc project through the three class A buildings - Brussels, Paris and Berlin. Roughly 31,500 sqm (GLA) were recently added to this portfolio through the reception of the London and Oslo buildings.

irina.marica@romania-insider.com

(Photo source: River Development)