The leading cleaning and hygiene product wholesaler operating in the Romanian market has leased nearly 6,000 sqm of modern space at the growing MLP Bucharest West logistics centre. The new facility will be delivered for occupancy by the end of this year. The tenant was assisted in the transaction by iO Partners - JLL Preferred Partner.
MLP Group has just launched a project to expand the MLP Bucharest West logistics park. The new building of about 16,000 sqm, being developed on a speculative basis, is scheduled for completion by the year’s end.
MLP Group enjoys a very good financial standing and a safe capital structure enabling the implementation of long-term strategic goals. This is confirmed by the results announced for the first quarter of 2023. During the period, consolidated revenue rose 51% yoy, to PLN 94.7 million, driven by increases in both leased area and rental rates. At the same time, the Group’s EBITDA (without revaluation of investment properties) improved by 59%, to PLN 47.8 million. In the first quarter of 2023, MLP Group earned a net profit of PLN 26.1 million. Since the beginning of the year, the Group’s net asset value (NAV) has gone up 1%, to more than PLN 2.5bn. The value of investment property also rose 1%, to close to PLN 4.5bn.
MLP Group has a very good financial standing and a safe capital structure enabling the implementation of long-term strategic goals. This is confirmed by its reported 2022 performance figures. The Group’s Net Assets Value (NAV) went up 37%, to just under PLN 2.5 billion (EUR 532.6 million).
Maracana, one of the leading European logistics companies is now a tenant at MLP Bucharest West. In January 2021, Maracana signed a contract with MLP Group to lease more than 5,000 m2 of modern warehouse space. MLP Group was assisted in completing the transaction by JLL, a real estate services company responsible for commercialising the entire project in Romania.
One of Romania’s largest distributor of household appliances and home electronics has leased 8,400 m2 of modern warehouse space at MLP Bucharest West. The finished space is slated for delivery to Marelvi Impex in June this year. JLL and Dunwell advised on the transaction.
The industrial sector could attract up to 750,000 sq m of logistics projects by the end of this year, and Romania could establish a new record, Dunwell estimates.
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