UK-based investment fund First Property Group has completed the sale of the Dr. Felix 87 office building in Bucharest’s Victoriei Square to Stock Exchange-listed company Bucur S.A. In this transaction, which closed on October 1, Colliers acted as the exclusive sell-side advisor.
The Dr. Felix 87 building offers 2,850 sqm of office space, fully leased to the consultancy firm Vulpoi & Toader Management. Completed in 2006 and acquired by First Property Group a year later, the property is just a short walk from Victoriei Square, one of the Romanian capital’s busiest business districts.
Colliers said the deal underlines the rising interest of domestic, exchange-listed companies in income-generating real estate. “The market remains active and diverse, with sustained appetite for well-located assets,” said Simina Niculita, Director and Partner | Retail Agency at Colliers.
The Victoriei Square submarket accounts for around 11% of Bucharest’s total office stock and has one of the city’s lowest vacancy rates, at just 5%.
With no new supply expected in the near term, prime rents in the area, already above EUR 22 per square metre per month, could continue to rise. The district has seen rental growth of roughly 20% over the past two years, supported by strong demand, limited supply, and its mix of offices, retail, and leisure.
The transaction marks Colliers’ second office deal in Victoriei Square this year, following its advisory role on Solida Capital’s acquisition of Victoria Center, the first institutional office investment in Romania in 2025.
First Property Group has been listed on the London Stock Exchange’s Alternative Investment Market (AIM) since 2000 and has extensive experience in managing real estate assets across Central and Eastern Europe. In Romania, the group also owns the Maestro Business Center office building in Cluj-Napoca.
The new owner, Bucur S.A., is listed on the Bucharest Stock Exchange and has a long-standing presence on the local market, with plans to diversify its portfolio in the short and medium term.
irina.marica@romania-insider.com
(Photo source: Colliers)