Mr.Bricolage outlets – “sale and leasback” project

In 2006, BREF executed 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 was EUR 10 million. In 2022 BREF sold the store, located in Varna, and now remains in possession only of Sofia store.

Aiming to efficiently utilize the raised capital, in 2006 BREF refinanced 70% of the acquisition cost via EUR 7 million investment loan from Eurobank Bulgaria. In 2016 the loan was completely repaid and as from the next year the entire cash flow from the rents received remains with BREF.

The lease agreement for Mr. Bricolage, after being annexed in 2021, expires in December 2026.