Forton

Societe Generale acquires administrative building in Skopje back

Overview

The ex-T-Mobile HQ office building, with a total area of 2.174 sqm, is located in the Center of Skopje, 100 m from central square “Macedonia”. The property is facing street Orce Nikolov and has immediate access to it. The building is a single standing unit with four levels: a basement, a ground floor with a front terrace, and two additional floors covered by a flat roof. A covered patio provides fresh air and natural light all through the building – in general an ideal building for a single tenant that meets all requirements for Class A space. Forton got involved as a prime consultant to provide a fair market value.


The Challenge

The client required a proper administrative building suitable for a bank headquarters in Skopje, and was engaged in a property survey for a building that meets the requirements for the purpose. At the time the previous owner of the building was contemplating a move to a bigger building to accommodate the growing number of employees. A purchase offer was due to be presented.


The Solution

Forton engaged in a detailed survey of all the characteristics and value producing feature of the property, as well as a detailed market research of the possible opportunity cost of analogue properties on the market. Forton provided a comprehensive study considering all of the influencing factors to provide a fair market value on which to consult the client for the impending transaction..


The Result

As an official representative of the client, Forton enabled an informed decision and provided the necessary information for a prudent transaction and acquisition of a headquarters property among all other financial institution in the central business district of Skopje.