Mr.Bricolage outlets – “sale and leasback” project

Mr Bricolage VarnaIn 2006, BREF concluded two “sale and leaseback” deals with the French “Do-It-Yourself” chain “Mr. Bricolage”. The two stores are situated in Varna (“Mladost” residential area) and in Sofia (“Tsarigradsko shosse” Blvd.). The total acquisition price of both stores is EUR 10 million.

Aiming to efficiently utilize the raised capital, in 2006 BREF refinanced 70% of the acquisition cost by means of an investment bank loan from Eurobank Bulgaria at the amount of EUR 7 million.

In 2012 both rent agreements were prolonged up to December 2021 and it was introduced a rent indexation with the HICP index of 27 countries for the previous year.

 

 Outlet Mr.Bricolage

   Sofia  

  Varna  

Total built-up area

15,174 sq.m.

12,184 sq.m.

 Built-up area

7,610 sq.m.

5,375 sq.m.

 Acquisition price

EUR 6 M

EUR 4 M

 Indexation

HICP 27

HICP 27

Lease agreement duration      

 December 2021 

 December 2021 

  

Bricolage Varna store Bricolage Sofia store Bricolage Varna store Bricolage Sofia store Bricolage Sofia store map Bricolage Varna store