Premia Properties announces the signing of a preliminary agreement with the Dimand SA Group for the acquisition of an independent property in which a biotechnology park will be developed. The property is located at the 2nd km of Paiania-Markopoulou Avenue, inside BIO.PA. Peania and has an area of 23 acres in which there are office and warehouse buildings of 4,180 sq.m. which will be reconstructed and reused, while new buildings with a total area of 16,000 sq.m. will be developed.
The tenant of the property and the operator of the park will be a joint venture of a Greek and American biotechnology company specializing in the field of cell therapies, after which a preliminary closed lease agreement for 20 years has been signed. Thus, Premia Properties, implementing its strategy, with this agreement launches investments in real estate in the field of Health.
The biotechnology park that will be created inside the property, is a particularly important investment for the Greek economy, which stands out for its innovation and concerns the development, production and distribution, for the first time in Greece, of cell and gene therapies, which will cover a wide range of serious and life-threatening diseases. The investment will last about 2 years.
The annualized rental income is projected to rise from € 1.5 million to € 1.5 million in the second quarter of 2022 and will gradually reach € 3.5 million by the end of the investment by the end of 2023.
Mr. Elias Georgiadis Chairman of the Board of Premia Properties stated: “2021 for Premia Properties was a period of intense activity and growth and is completed with another significant investment. The property in Peania is the eleventh property added to our company’s portfolio within the current year, thus certifying that Premia Properties is today the most dynamically growing real estate company in Greece and being another step towards achieving our strategic goal of € 1 billion worth of real estate portfolio within the next five years “.
On his part, Mr. Konstantinos Markazos, CEO of Premia Properties stressed that the company, after the serviced apartments, enters in 2021 in another field of activity, which presents significant growth prospects, that of health. “The new investment is expected to further enhance the quality and diversification of the real estate portfolio as well as the strengthening of the fundamental dimensions of our company. The real estate market in Peania is fully in line with our ambitious investment plan, which we will continue consistently, “he added.
Source From: Capital