Bucharest's historic centre has been the scene of the firsttransactions sealed between coffee shop owners, pubs, andrestaurants, after for two years in a row investors took over oldstores, mostly dilapidated ones, retrofitted them, and turned theminto stores with hundreds of thousands of euros in sales peryear.
Up until now at least four restaurants have changed their brand,after their managers sold the refurbished and fully equipped placesfor sums that enabled them to cover the initial investment or evenexceed it twice or three times.
According to figures thrown around on the market, a restaurant inthe Old Centre, which had entailed 200-300 thousand euros ininvestments, are sold for close to one million euros.
"In August 2009 I sold the pub I had opened a few months before, inorder to focus my investment on a bigger place, covering 750 squaremetres, with an interior garden, a terrace, an underground club,that can accommodate a total of 400," says Cristi Dumitriu, one ofthe owners of Old City pub in Lipscani, which he manages with hisItalian partner, Osvaldo Iandolo, via Lipscani Beer Gardencompany.
Dumitriu sold Pub Vintage to Remus Nica, who renamed the restaurantThe Vintage Pub.
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