One United Properties transforms office buildings into residential project

One United Properties announces a new residential development, One North Lofts, located on Pipera Bulevard, five minutes’ drive from the Promenada Mall business district of Bucharest and 10 minutes’ drive from Herastrau Park in Bucharest.

The new residential development of One United Properties stems from the One North Gate office complex, which consists of two buildings, one of which will be fully reconverted into a One North Lofts, with a Gross Buildable area of approximately 20,000 sqm and a Gross Development Value of 30 million euros. The second building within the complex, currently leased at 73 percent, with a Gross Leasable Area of 4,500 sqm, will remain in One United Properties’ office portfolio under the One North Gate name.

“One North Lofts is based on our landmark concept of mixed-use developments, which offers residents a full array of facilities located in immediate proximity. The reconversion of an office building will allow its tenants to benefit from spectacular apartments. One North Lofts brings to the Bucharest market a unique concept of lofts, living spaces typically situated inside renovated industrial or office buildings, offering open floor plans with high ceilings and large windows for natural light. Located in a desired area of Pipera, One North Lofts has a direct access road to the business centre of Bucharest, offering to our clients an exceptionally positioned development,” said Beatrice Dumitrascu, CEO of the Residential Division at One United Properties.

The new development has six floors, will host 137 residential units, varying from studios to one-, two-, and three-bedroom apartments, with surfaces of up to 170 sqm per unit, with exceptional height of 3.2 meters. There are also three commercial spaces on the ground floor and 237 parking spaces underground and aboveground available for the future residents.

One North Lofts is estimated to be completed in September 2023. The sales for this development have already been launched, and there are flexible purchase options to access the units – a new payment structure available exclusively for this development, of two equal pre-payments of 10 percent and 80 percent payment upon delivery, five equal instalments of 20 percent, or a 100 percent pre-payment upon signing.