Retailers set new price benchmarks for plots of land

Land deals inked this year have topped 100m euros, with retailers setting the new price benchmarks. After 2009, at the end of which owners no longer knew how much to ask, and investors did not know what a reasonable price offer meant, deals sealed this year will help shorten the negotiation period for future transactions, reads BUSINESS CONSTRUCT monthly magazine.
Land deals worth 60-70m euros, typical of the 2006-2007 period, were no longer registered this year, but the "dearth" of last year was not seen, either.
Dedeman, Decathlon, Cora, Auchan and Kaufland calculated and re-calculated and when the outcome started being positive, they started investing millions of euros to buy land again, particularly in big cities seen as still having room for modern retail.
In Cluj, Bra[ov or Bac`u plots of land inside cities were sold this year at prices of between 180 and 325 euros/square metre, depending on the area and proximity to the centre, as well as on the existence of utilities or even of some structures than can be used for future developments.
Plots differ, though, and the deal context can also bring different prices. Nevertheless, owners and investors will now have benchmarks to take into consideration.