Briq Properties turns the key to an investment of 20 million euros

By Eleni Botas

Briq Properties plans to invest a total of 20 million euros in the coming months through its available financing lines.

Of the total investments, about 10 million euros will be directed for the development of new modern storage and distribution facilities, with a total area of ​​approximately 20,000 sq.m. in Aspropyrgos, Attica, at the “Imeros Topos” location.

In this area of ​​about 105 acres have already been built 20,700 square meters of logistics space which have been leased to Info Quest Technologies. This first building will be handed over to the tenant in early 2022.

The new investment in the second logistics building is expected to start in early 2022 and be completed in 2023.

To date, 16 million euros have been invested in this project, raising the total amount of the investment to 26 million euros.

It is recalled that Briq has acquired 80% of another logistics complex in Mandra, with eight buildings of almost 59,000 sq.m. in a property of 131 acres, which is fully leased to Sarmed Logistics.

Both in Mandra, Attica, and in Aspropyrgos, Briq plans the development of low energy efficiency systems (photovoltaic systems, etc.) for the energy autonomy of buildings.

Also, funds totaling 2.5 million euros are expected to be allocated for the upgrade of the office space in its portfolio following the rules of energy saving and environmental upgrading (bioclimatic) as well as 5.2 million euros for the renovation and expansion of its hotel units.

In this context, Briq is proceeding with the radical renovation of the Plaza Hotel Skiathos hotel, which is leased to the Hotel Brain chain, while at the same time it is planning to expand its hotel unit in Paros with an additional 12 rooms that will be added to its existing capacity.

The focus of the company remains the logistics sector and the hotel sector, where all investment opportunities are explored, as demand and prospects in both sectors are significant, with returns ranging between 7.5% and 8%. .

As Anna Apostolidou, CEO of Briq, told Capital, “we are adapting in the best possible way to the new market data in order to serve the needs of the industries that will show the greatest growth, such as logistics and tourism.” .

It should be noted that the significant shift of the company’s real estate portfolio in the field of logistics is reflected in the composition of the value of the real estate portfolio 30.9. 2021, which is 48% logistics, 30% offices, 17% hotels and 5% other uses while on 30.09.2020 there were 43% offices, 27% hotels, 14% logistics and 16% plots and other uses.

In terms of the total value of its portfolio amounts to approximately 120 million euros with the aim of reaching 150 million euros in the medium term.