Hercesa acquires former Farmavet warehouses for new development in Bucharest

The Spanish real estate group Hercesa has acquired the former Farmavet warehouse complex from businessman Sorin Paul Stănescu. The deal, valued at €1.85 million, includes a nearly 7,000-square-meter plot in the Morarilor area of Sector 2, which houses 14 buildings previously used as storage facilities by Farmavet.

Situated adjacent to the former Titan bread factory, this site is in close proximity to a development project where Hercesa has already constructed 1,000 apartments. Sorin Paul Stănescu is currently seeking a demolition permit through his company, Crisodo Imobiliare, to clear the old warehouses.

Hercesa plans to integrate the newly acquired property into its ongoing Vivenda development project. “We are advancing with another phase of Vivenda, which is currently in the concept development stage,” announced Hercesa representatives regarding the future use of the site.

Source: Profit.ro