Office floor sale 1,100 sq.m
The owner held an office floor in the center of Thessaloniki, located on Monastiriou Street. As the asset no longer served the company’s core business, a decision was made to proceed with its sale.
A key challenge was the relatively limited demand for commercial office space in the local market, requiring a differentiated approach to positioning and utilization.
Terra Property repositioned the asset from a traditional office sale to an alternative investment opportunity based on change of use. Through this strategy, an international buyer was identified, acquiring the property with the intention of converting it into residential units and maximizing future value.
Key transaction highlights:
- Office floor 1.100 sq.m in central Thessaloniki
- Location on Monastiriou Street
- Divestment of a non-core asset
- Limited local demand for office use
- Repositioning through change of use
- International buyer with residential conversion strategy
The transaction was successfully completed, meeting the seller’s divestment objectives while creating strong value prospects for the buyer.