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COVID-19 has put restaurants, cafes and billiard rooms up for sale
In Sofia, rents fell twice, with demand 80 percent lower than before the pandemic
The commercial real estate market is extremely dramatic, both in terms of rentals and sales. The collapse of prices is due to uncertainty, and in the sale announcements they are present from tennis courts, to cafes and gyms. But despite falling prices, commercial real estate deals are down at least 50 percent. This was commented to Trud by managers of several leading brokerage agencies in the country.
“Demand for commercial property rentals has dropped by at least 80 percent compared to pre-pandemic offers. We are talking about offices, shops, pharmacies, warehouses, commercial buildings, and the price of the area in Sofia , in central areas it is already around 15 euros per square meter “, Yordanka Rangelova, manager of” Rents and Commercial Properties “, commented to” Trud “. Address agency. For comparison, before the coronavirus pandemic, the prices they were between 20 and 30 euros per square meter. In order not to lose the income from the property they have, people are forced to rent it at a much lower price, “added Rangelova. According to her, the maintenance fees are also very low The shortening of lease terms in contracts also continues to be a trend. If previously commercial properties were rented for a period of 5 to 10 years, now contracts are signed for 12 or 24 months. ló Yordanka Rangelova.
In Blagoevgrad there are dozens of advertisements for the sale of restaurants, cafes, billiard clubs or pizzerias. Most of the owners have announced that they are selling the premises along with the furniture and permits. So whoever decides to buy can come the next day with staff and work.
The sale prices vary from 520 euros to 1,300 euros per square meter depending on the location, furniture, area, extras. Most of the restaurants sold are located in the wide city center or are part of commercial buildings.
According to brokers in the Pirin region, many of the homeowners have loans and liabilities that they cannot service and have therefore decided on the final step of the sale. There are also restaurants, shops and businesses for sale in the Bansko and Sandanski resorts. There the prices are negotiable and go down to 300-400 euros per square meter.
Under the hills
In Plovdiv they escape from the vending machines
There is also a cold cuts shop in the market.
Vanya Nedyalkova
TRUD, Plovdiv
Cafes and clubs are sold in droves in Plovdiv, but not as premises, but as businesses. This is usually done by tenants who cannot support themselves financially due to restaurant closings and decide to sell their business. Among the offerings are even 2 restaurants in the famous nationwide “Kapana”. One is fully equipped and with all the documents and permits for the coffee bar. Its surface area is 120 square meters and the price indicated in the advertisement is BGN 43,000.
There are also coffee shops for sale, which are said to open the day after restrictions drop. The advertisements also offer a shop for fruits, vegetables, nuts, coffee and fresh fruit, also with complete equipment. The commercial space is 45 square meters and its current tenant wants BGN 20,000 for it. It also offers the minibus that filled the store, and specifies that “the business is sold for more favorable conditions in another of my ventures.”
Among the interesting offers is the sale of a vending business. Machines for coffee and the sale of packaged and non-alcoholic foods such as pretzels and waffles are located in the largest administrative building on the main street of Plovdiv. “The two machines are the only ones in the 4-story building with offices and law firms,” said the owner of this business.
Production premises are also sold, followed by a sausage workshop in Asenovgrad. The sale of business is done through the advertising sites, the offers specify that the mediation of agencies is undesirable.
The traps on the beach are deserted
Tennis complex with five courts seeks buyer
Maria Kehayova
TRUD, Burgas
In Burgas boil advertisements for the sale of cafes, restaurants, pastry shops and even a tennis court. The last 975 square meters, in the Dolno Ezerovo district, have been announced for 888,000 euros. The property has a parking lot of 1000 square meters, four roofed and one outdoor, and the roofs have a heating and irrigation system.
Taverns and offices go with the staff
They negotiate law firms and a cultural monument
Tsvetelina Georgieva
TRUD, Shumen
Dozens of offers for the sale of offices, commercial premises, restaurants and hotels appeared on the Shumen real estate market last year. Among the offers there are also law firms for sale.
An iconic building, a cultural monument, three floors in an ideal center has been announced, and the price is BGN 1 million for almost 400 square meters.
There are many offers, but there are no buyers, say the realtors. Rentals of 200 BGN per month are now around 130 BGN.
Anyone who has decided to buy a restaurant can now choose from developed cafes to taverns in Shumen neighborhoods, along with the staff. Their prices are surprisingly below BGN 1,000 per square meter. m. Even for an attractive property, a combination of conference rooms, offices and a restaurant on a central boulevard, where the price has dropped to BGN 820 / m2. The sale of several smaller family hotels in Shumen has also been announced.
In the resorts near Varna
Beachfront hotels also rated
Daniela farhi
TRUD, Varna
Varna brokers are reporting an increase in offers for store and restaurant sales. Due to the coronary crisis and the desperately weak summer season, hotel sales offers in resorts near the city are multiplying. In Golden Sands and in the neighboring area “Kabakum” more than 25 hotels are listed at the counter, according to a reference on real estate sites. Two of them are on the first line and have more than 120 rooms. One is sold for 4.9 million euros and the other has a negotiated price. Such an option is chosen by the owner of a popular restaurant in the navel of the resort. Shops, a spa and even a bowling alley for 534,000 euros are available on the Golden Sands shopping street. 100,000 euros less is required by the owner of a restaurant next to the centrally located “Internacional” hotel. There is a large supply in the tourist complexes “Alen Mak”, “Evksinograd” and “Trakata”, where buyers are sought for more than 30 small hotels.
Most offerings say the sites have been developed and some claim they are suitable for hospice. However, this type of transaction is difficult to implement, since hotel prices are not determined squarely, but based on proven profitability. If it is below 7-8%, there are no investors, explained Trud Dobromir Ganev, chairman of the NPRI board.
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