Benetton has announced the closure of its factory in Niš starting this April, leading to concerns about the future of the employees who will lose their jobs and what will happen to the factory’s land and buildings. According to Južne Vesti, the company has not provided answers to these questions but has instead published a public invitation for interested buyers to submit letters of interest for the purchase of the factory complex.
The announcement, published in several media outlets, invites potential buyers to submit letters of interest by April 28. The factory complex is located at Pantelejska 58, in the Municipality of Pantelej, Niš. It covers an area of approximately 81,126 m², which includes multiple facilities such as office buildings, a loading and unloading area, as well as two land plots (No. 5476/1 and 5476/2). The land and buildings are fully owned by Benetton and are registered with the Real Estate Cadastre Service in Niš.
Benetton acquired the Niteks factory in 2011 for €3 million, which included both the land and the buildings. The area is currently zoned for business and commercial purposes, meaning it cannot be used for residential developments unless there are significant changes to urban plans and permits are obtained from the Institute for the Protection of Monuments, as the land is located in an area with archaeological significance.
Given the size of the land (about eight hectares), there is no direct comparison to other available plots in Niš. In fact, land of this scale has never been offered for sale in similar locations within or outside of Niš.
Real estate experts have estimated the price of the land based on nearby properties, suggesting that an acre on the outskirts of Niš could range between €25,000 to €40,000. If the price per acre were set at €40,000, the total value of the entire Benetton complex would be approximately €32.4 million. With a price of €30,000 per acre, the total price would be closer to €24.3 million.
The sale of this property represents a significant opportunity in the Niš real estate market, but the potential for development will largely depend on whether Benetton can secure the necessary permits related to the archaeological site.
