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SPEEDWELL started the construction works for Phase 2 of SPACEPLUS West (Chitila)

Phase 2 represents 7,000 sqm out of the total surface of 10,000 sqm

SPEEDWELL, one of the most active players on the Romanian real estate market, announces the start of the construction works for the second phase of development for SPACEPLUS West project.  The space is destined for the light industrial and logistical storage demands of SMEs. Conveniently located on Bucharest’s ring road, in Chitila, the new development represents 7,000 sqm of rentable area, part of the 10,000 sqm total surface. The first phase of the building is already at 100% occupancy rate, construction works for Phase 2 are already underway and are planned to be finalized by the end of the year. 

The first phase of SPACEPLUS’ first development was launched last year, introducing a new warehousing concept on the Romanian market. In response to the needs of small and medium-sized enterprises (SMEs), the concept provides class A, high-quality storage and production units for light industrial and logistical usage. Phase 1 of the development is represented by a module of 3,000 sqm, while Phase 2 comprises 7,000 sqm out of a total building size of 10,000 sqm.  

„We are pleased to announce the start of the construction works for the second phase of our SPACEPLUS West development. The new concept we introduced last year is already being recognized by the industry. In the meantime, the need to address the storage and production requirements of SMEs remains our priority, while remaining true to our current and future tenants in building cost-efficient well-insulated and energy-efficient spaces. Our tenants have the flexibility in configuring their own high-quality spaces, featuring a modern design that prioritizes security, safety, and sustainability, along with their comfort.“, said Jan Demeyere, Architect and Co-Founder of SPEEDWELL.  

Featuring built-in modularity, the capacity of the storage spaces starts from 450 sqm onwards, with a clear height of 6 m. Thus, the SPACEPLUS concept becomes the modern storage solution for businesses looking for flexibility, additional services, and state-of-the-art facilities. 

”We are excited to continue our development plans in the light industrial segment in Chitila, a strategic location for business, situated just 9 km away from Bucharest’s city center. Our customer-oriented approach and our efforts in expanding in the new segment have been confirmed by the industry, with the Europa Property Award for “Best Warehouse Project” of the year, but also by the market, as the building is leased at full capacity, proving that our investments are being put in the right direction. With this concept developed further, and to further the segment, overall, we are confident that we will be able to answer the needs of SMEs at a national level, within international warehousing standards.”, said Didier Balcaen, CEO and Co-Founder of SPEEDWELL. 

SPACEPLUS benefits from the highest safety measures, with 24/7 surveillance and controlled access. Moreover, spaces are equipped with sprinklers and other additional services, such as installed heating or custom-made office fit-outs. 

As part of its expansion plans and high demand in the market, SPEEDWELL also purchased this year a new plot of land in Popesti-Leordeni planned for the SPACEPLUS East development. The company has in its pipeline its second project SPACEPLUS East, comprising 8,000 sqm. SPEEDWELL is building Phase 2 in Chitila in close collaboration with LCV, a Belgian investor, in a 50/50 investment partnership. 

As an expression of its commitment to innovative design and customer-oriented solutions, SPACEPLUS won the award for “Best Warehouse Project” of the year at the SEE Real Estate Awards 2023 Gala, organized by Europa Property. This way, SPACEPLUS is recognized as a new concept on the Romanian industrial market. 

SPACEPLUS West includes tenants such as Arhivatorul, HAK, and Project1, and other tenants that will commence their tenancy contracts once the building works are concluded.  

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About SPEEDWELL 

SPEEDWELL has a large portfolio of developments in Romania that includes RECORD PARK in Cluj-Napoca, TRIAMA Residence, The IVY, MIRO, THE MEADOWS, CITYZEN, and SPACEPLUS in Bucharest, GLENWOOD Estate in Corbeanca, PALTIM in Timisoara, and RIVERSIDE City in Ramnicu-Valcea. 

For further information: 

Elena Dumitru
Marketing Manager at Speedwell ([email protected]) 

Ioana Oprescu
PR Consultant The Public Advisors ([email protected]) 

ESG Report 2022