New retail projects keep up the supply volumes on the retail space market. In Sofia, Dutch developer Multi Development and Austrian investor Meinl European Land will invest in a shopping mall of 170,000 sq m built-up area. The complex will be located across from Business Park Sofia; its GLA will be 88,000 sq m.
British investment group Charlemagne Сapital announced it planned to develop a retail complex in Burgas in a joint venture with Plovdiv based construction company Sienit. For the Black Sea city this project might be the first after the blocking of the construction of a mall on Troykata Sq. as a result of litigations for the ownership of the land.
The shopping centre space monthly rents in Sofia vary from EUR 25 to EUR 55 per sq m. The sales in retail buildings are in the range of EUR 2,845 per sq m to EUR 3,070 per sq m but offers are rather exceptions. One of them is for stores on Alexander Malinov Blvd. in Mladost neighborhood for EUR 3,000 per sq m.
The top selling prices of shops in the centre reach EUR 20,000 per sq m. On one of Sofia’s high streets, Pirotska Str. a 30,000 sq m shop is offered for that price.
In the centre of Burgas owners of retail space for rent ask from EUR 6 to EUR 68 per sq m. A unit of 25 sq m located on Bogoridi Str. is offered at the latter level. Uptown rents reach EUR 30 per sq m. A shop in a new building near the Sea Garden park could be rented at this price.
Sales in the centre of the Black Sea city start at EUR 1,200 and reach EUR 7,000 per sq m, the last price being for 180 sq m shop. The retail space sales prices in Slaveykov and Lazur neighborhoods range from EUR 700 to EUR 1,500 per sq m.
In Plovdiv, the top price for a central shop is EUR 8,000 per sq m, while in shopping centers the levels go just beyond EUR 5,000 per sq m. In the centre of Varna the top level registered is EUR 10,700 per sq m.
Asking Prices Of Retail Space In Euro Per Sq M (September)*
|
Area
|
Rents (per month)
|
Sales
|
Sofia
|
Bulgaria Blvd.
|
13 - 60
|
1910 - 5000
|
Georgi S. Rakovski St.
|
19 - 96
|
6660 - 17190
|
Vasil Levski Blvd.
|
24 - 54
|
4750 - 9500
|
Vitosha Blvd.
|
32 - 200
|
8000 - 21540
|
Madrid Blvd.
|
16 - 45
|
3820 -8580
|
Maria Luiza Blvd.
|
24 - 58
|
4060 - 7500
|
Patriarh Evtimii Blvd.
|
45 - 117
|
4000 - 7600
|
Todor Aleksandrov Blvd.
|
12 -37
|
2000 - 2840
|
Hristo Botev Blvd.
|
16 - 78
|
2470 - 5320
|
Center
|
28 - 127
|
3500 - 20000
|
Borovo
|
7 - 42
|
720 - 4100
|
Dianabad
|
11 - 35
|
910 - 2610
|
Drouzhba
|
6 - 26
|
740 - 1875
|
Lyulin
|
4 - 40
|
480 - 4000
|
Mladost
|
4 - 40
|
620 - 3350
|
Ovcha Kupel
|
5 - 50
|
640 - 1625
|
Geo Milev
|
6 - 30
|
760 - 2285
|
Iztok
|
8 - 27
|
1250 - 9020
|
Shopping centers and malls
|
25 - 55
|
2845 - 3070
|
Varna
|
Briz
|
5 - 10
|
1170 - 1670
|
Chaika
|
8 - 19
|
1040 - 1750
|
Center
|
15 - 148
|
1200 - 10700
|
Shopping centers and malls
|
20-60
|
N/A
|
Plovdiv
|
Vastanicheski
|
4 - 13
|
470 - 2220
|
Karshiaka
|
3 - 20
|
540 - 3580
|
Center
|
5 - 100
|
1000 - 8000
|
Shopping centers and malls
|
5 - 50
|
1050 - 5140
|
Bourgas
|
Lazour
|
3 - 30
|
900 - 2000
|
Slaveykov
|
4 - 23
|
720 - 1530
|
Center
|
6 - 68
|
1160 - 7000
|
*Prices based on the available supply of retail space in the previous month. N/A - no available information for supply
|
Bulgarian Property
Bulgarian
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