The owners of SiteGround buy it from Valentin Zlatev
The emblematic Strawberry House at 6 San Stefano street in the capital has a new owner, who is acquiring it for an as yet unknown sum. This is the large Bulgarian IT company SiteGround.
One of the owners of the company – Tenko Nikolov, himself announced the deal on Friday on his Instagram account: I finally closed the deal on acquiring this beauty. Now is the time to restore it to its former glory.
siteground later released a statement saying their plans are to secure it first and then come up with a restoration plan. the idea was to preserve the unique appearance and ancient identity.
Our intentions are for the building to function as a representative headquarters for all company activities, including for the For Example Foundation, founded by SiteGround management. We are committed to preserving the cultural heritage of Sofia and will inform the public about the progress of the project when we have a ready solutionthe message also says.
The Strawberry House was built in 1930. for the banker Dimitar Ivanov. After the Second world War, it was nationalized and was successively the embassy of Romania and the commercial representation of the USSR. After 1990 the property is restored to the heirs. In 2004 it is bought by Vasil Zlatev – the father of the former boss of “Lukoil Bulgaria” Valentin zlatev. according to data from the Commercial Register, it was bought then for 2 million. euro. Since 2012 the house is owned by Valentin Zlatev.
It has been declared a cultural monument and is
one of the few representatives of the Secession style in the architecture of
the capital Seen from the outside, it is indeed in bad shape and there have long been arguments about how to restore it.
Architect Petkana Bakalova led in 2017. we have three French specialists to assess the deformations and damage to the Strawberry House and to determine whether the building has the necessary structural stability so that it does not have to be pushed and its facade rebuilt. “24 Chasa” contacted on Friday with Arch. Bakalova.
The conclusion of the French at the time was that the house was extremely well preserved and did not need to be demolished. I guess that holds true for now. There were no diagonal cracks to suggest deformations of the foundations, no cracks even on the plaster inside, let alone the bricks. Only a leak was found,which required only the roof to be repaired. Even the interior was well preserved and if you watch the Bulgarian film The Devil’s Tail, which was filmed in and around the house, you will get a good idea of the condition of the Strawberry House and its valuecommented architect Bakalova.
She added that the large portal on the first floor with crystal glass is entirely preserved,
the wood paneling and red marble fireplace. we have saved houses in far worse condition, Bakalova also said.
It is indeed difficult to say how much this property is worth. According to appraisers interviewed by 24 Hours, if customary methods are applied, they will give an idea of the value in terms of what it can be used for. It was obvious that the house could not be lived in or worked without serious repairs.
The total area of the house without the annex in the yard is 500 square meters, which, if multiplied by the average price of residential properties in this area at the moment of 5 thousand. EUR, 2.5 million are obtained.euro. However, this is only for the building, such an estimate does not include the extensive yard, which is about an acre.
In Bulgaria,there is no tradition of assessing the cultural-architectural value of a property,and this would significantly increase its price,said Tsenka Bozhilova – president of the Chamber of Professional Appraisers. According to her, it is an intangible asset and traditional valuation methods cannot be used. The funds for the restoration had to be deducted from the value
In 2022 A rumor spread among brokers in Sofia that the house was being sold for 30 million.BGN An ad was never published because everyone claimed that the offer was only going to select customers. It was also said that two embassies had been inspected – that of France and that of an oil-rich Arab state. A deal was not reached mainly because of the staggering price and the need for serious restoration.
In 2015 there was an attempt to restore the Strawberry House. An audit was then carried out by the University of Architecture, Construction and Geodesy. The conclusions were that there was notable deformation on the foundations and that compromised floor slabs had to be removed. Based on this, a restoration plan was drawn up, which, however, was not approved by the then chief architect of the capital, Zdravko Zdravkov, and was returned for revision.
Tenko nikolov and the other owner of SiteGround – Ivo Tsenov, are among the big donors in Bulgaria, especially in the field of medicine. In 2022 they announced that they would invest 100 million BGN in healthcare growth initiatives.
Between 2020 and 2022 the two have donated over 14 million BGN of hospitals, non-governmental organizations in the field of education and causes of a social nature.
12 million BGN were also invested in the creation of the Bulgarian IT scientific institute INSAIT, which was established in April 2022.
The hosting company SiteGround was founded 20 years ago and is currently one of the largest self-reliant providers of this type of service in the world, supporting more then 3 million. the domain and the server in several data centers in Europe, asia, America and Australia.
In Bulgaria, the group has centers in Sofia, Plovdiv and Stara Zagora with over 500 specialists – developers, IT experts, marketing experts, etc.
According to “Capital” data, the revenues of the Bulgarian company “Siteground Hosting” have reached 255 million. BGN in 2022 with a profit of 142 mln. BGN the company is solely owned by the Cypriot SiteGround Capital, but there is no information on how much the company’s
global income is from its activities around the world.
How does adaptive reuse benefit historic buildings like the Strawberry house?
Interview between Time.news Editor and Architect Petkana Bakalova
Time.news Editor: Welcome, Petkana! thank you for joining us today to discuss SiteGround’s recent acquisition of the Strawberry House. This is undoubtedly an exciting growth for Sofia’s cultural heritage.
petkana Bakalova: Thank you for having me! It’s always a pleasure to discuss our city’s architectural treasures.
Editor: SiteGround has announced plans to restore the Strawberry House. From an architectural standpoint, how significant is this building to Sofia?
Petkana: The Strawberry House is one of the few remaining examples of the Secession style in Sofia, which is a vital part of our architectural heritage. Built in 1930 by banker Dimitar Ivanov, it has an intriguing history that reflects not just the evolution of the city but also the socio-political changes in Bulgaria.
Editor: Right, and there’s a rich history behind it! After being nationalized post-World War II, it also served various purposes until it was restored to the heirs in the 1990s. What conditions does the building currently face?
Petkana: As of the latest inspections, including assessments by French experts in 2017, the Strawberry House is in relatively good condition. There were no alarming structural issues—no cracks in the foundations or even in the plaster. The only major concern was a leak requiring roof repairs. it’s well-preserved, especially considering how poorly other historic buildings have fared.
Editor: That’s reassuring to hear! SiteGround’s intent is to preserve its “unique appearance and ancient identity.” What does that entail in terms of restoration practices?
Petkana: Preserving a building’s identity while restoring it is indeed a delicate balance. It involves careful planning to maintain its classic features, like the large portal with crystal glass, wood paneling, and its stunning red marble fireplace. The restoration should enhance its past features without compromising the original structure, which, in this case, seems to have stood the test of time relatively well.
Editor: It’s interesting how they plan to use the building as thier headquarters and for the such as Foundation. How vital is the adaptive reuse of historic buildings like this?
Petkana: Adaptive reuse is crucial for both preserving heritage and supporting contemporary needs. It allows historic structures to remain part of the living city, promoting cultural engagement while ensuring they do not fall into disrepair. This kind of thoughtful repurposing can breathe new life into a space that might otherwise be neglected.
Editor: Indeed, and restoring the Strawberry House could also enhance public awareness of bulgarian cultural heritage, as the company plans to communicate progress on the project. How important is community involvement in such projects?
Petkana: Community involvement is vital.It fosters a sense of ownership and pride in local heritage, encouraging support for preservation efforts. When people are informed and consulted, they’re more likely to engage positively with the restoration process, leading to a prosperous outcome that honors both history and modern needs.
Editor: Absolutely! With your expertise in architecture and heritage preservation, what’s your hope for the future of the Strawberry House under SiteGround’s ownership?
Petkana: I hope they follow through on their commitment to quality and historical accuracy in the restoration. If done right, the Strawberry House could become a vibrant hub—showcasing not just SiteGround’s identity but also celebrating Sofia’s rich history for future generations to appreciate.
Editor: Thank you, Petkana, for sharing your insights with us today! It’s encouraging to see companies taking responsibility for cultural heritage preservation.
Petkana: Thank you! I’m excited to see how this project unfolds and what it means for Sofia’s architectural landscape.