Premia Properties announced the signing of a preliminary agreement with Dimand SA for the acquisition of a property where a biotechnology park will be developed. The property of 23 sq.km, is in Peania, Attica.
Currently on the property there are office and warehouse buildings of 4,180 sq.m. which will be reconstructed and reused, while new buildings with a total area of 16,000 sq.m. will be developed.
The tenant of the property and the operator of the park will be a joint venture of a Greek and American biotechnology company specialising in the field of cell therapies.
As emphasised in the Premia Properties’ announcement, the biotechnology park that will be created inside the property is a particularly important investment for the Greek economy, which stands out for its innovation and concerns the development, production, and distribution, for the first time in Greece, of cellular and genetic treatments, which will cover a wide range of serious and life-threatening diseases.
The development will last about 2 years. The annualized rental income is projected to rise from the second quarter of 2022 to € 1.5 m and gradually until the completion of the investment, end of 2023, will be € 3.5 m.
Original Source: Euro2day.gr
Adaptation/Summary: Kiki Athanasiadis