by Property Forum | Industrial

Property developer Speedwell says it secured the building permit for its first industrial project located in north-western Bucharest. The development of the first warehouse under the Spaceplus brand will start in the next period and should be completed by the second quarter of 2022. It will have a total leasable area of 10,000 sqm. Leasable storage space ranges from 400 to 600 sqm. 

The project is being developed in cooperation with LCV and real estate consultancy Dunwell will handle the leasing side. 

“The approach to care for the demand of small & medium surfaces has been for a long time needed and we are confident that the market will grasp this opportunity and push the growth to many more location, in Bucharest and throughout the country, this concept being ready to cover all locations,” said Daniel Căutiș, Managing Partner of Dunwell Industrial Brokerage. 

Speedwell’s local portfolio comprises offices, residential and mixed-use schemes in Bucharest and regional cities.