40m Euro Retail Park To Open In Northeast Bulgaria

Real estate investment company Greenfield Bulgaria, operating in Bulgaria and Romania, plans to invest 40 million euro in building a commercial park in Turgovishte, investor.bg reported.The planned park is 100km north-east of Veliko Turnovo. According to the company's executives, the park will occupy a 92 000 sq m land plot, strategically situated near Turgovishte's ring-road and the highway connecting Sofia and Varna.A mall, a number of hypermarkets selling food, electronics, construction supplies and furniture, a petrol station and a fast-food restaurant will all find place within the park's compound, with an envisioned 40 000 sq m built-up area.For the convenience of all customers, a parking for 1200 cars has also been planned.The company said it expected to obtain a building permit by the end of 2008. The completion deadline was set for 2010, investor.bg said.Architect of the project is London-based studio Chapman Taylor, which was involved in the design of recently opened Mall Varna.According to Greenfield executives, the annual return on investment was expected to be 8.5 per cent.