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Mixeduse Development To Sprawl On Site Of Former Ramstore In Zapaden Park

A modern office and retail centre will spring up on the site of the former Ramstore hypermarket in Sofia’s Zapaden Park (Western Park) neighbourhood, Dnevnik daily reported. The project, which is still in an incipient stage, is developed by the plot-owner - Israeli national Ori Niv and his company On Bulgaria.

Niv told Dnevnik that he had already designed the office project. Niv acquired the land from Turkish retailer Migros, who owns Ramstore chain, in February 2007 for 8.5 million euro.
The future compound, to be named Ramstore Business centre, will comprise office and retail space. Its gross actual area will be 47 000 sq m, 33 400 sq m of which will be allocated for offices. Commercial units will be accommodated on the ground and first floors of the three-storey building, which will have a 900-car underground parking lot.

Real estate agents, approached by Dnevnik, said that the project was listed for sale with a price of 22 million euro, including the cost of the building permits.

No information was released in the wake of Ramstore sale last year regarding the plans of the new owner for the site. The property was reportedly on the wish-list of both developers and retail chains. At the time of the acquisition, Niv said he was interested in the land plot, not the store itself.

The Ramstore chain withdrew from Bulgarian market in 2007. The Zapaden Park outlet was the only one, which was owned by the company. The rest were rented out by the retailer.