BriQ Properties changes strategy
The company aims at higher yields.
The strategy of BriQ Properties REIC for the next period is focused on higher returns of 8% - 8.5% from the industrial real estate sector (warehouses, logistics).
The listed company, as announced by Ms. Anna Apostolidou CEO of the company, during a teleconference, is rapidly advancing a large project in the area of Aspropyrgos, specifically the creation of a Logistics Center with a total area of 20,764 sq.m. The project is being developed on a plot of 57.5 acres, bought recently for € 3,456. The total investment will reach € 13.1 million. The Logistic center is modernly constructed, out of precast concrete andsubcategory Z3fire protection throughout the building, making it unique on this market.
As revealed by Mrs. Apostolidou, BriQ is in discussions for this property, which is gathering great interest for lease. "We have focused on the Logistics industry because we see in the midst of the global pandemic that, not only is it resilient but it also shows an increase in rental prices and demand," she said, adding that "we remain vigilant for any opportunities that may arise." to occur both in traditional office buildings and in hotels ".
New hotel in KolonakiThe new BriQ hotel under the name "The Modernist" is expected to open its gates in the next few days, in the midst of an admittedly difficult situation for the tourism industry. It is a 40-room boutique hotel managed by businessman Costas Karatzas, owner of the "The Modernist" hotel in Thessaloniki.
The investment, as Mrs. Apostolidou said, which was made entirely by the tenant, reached approximately € 1.5 million. The property is located at 4 Ioannou Gennadiou and Ypsilandou streets, in Kolonaki and previously housed the Canadian embassy. It was sold to the Turkish group Dogus and in 2018 passed into the ownership of Briq Properties REIC.