Trident Estates plc, a company specialised in the buying, selling, developing and renting of properties, has entered into a promise of sale agreement to sell its property Trident House in Marsa for €29.25 million.

The agreement, valid until 30th May 2028, was signed with BBT plc and OS Developments Limited for the purchase of the property on Qormi Road, Marsa, which also has an entrance from Triq is-Serkin.

The buyers have agreed to purchase the property for €29.25 million, payable in stages:

• €4 million on signing
• €1 million by 31st March 2026
• Remaining €24.25 million upon completion of the final sale.

BBT plc is a joint venture between several of Malta’s leading players in the commercial real estate market, including TUM Operations Ltd (a subsidiary of TUM Invest), V&C (a subsidiary of V&C Group), BT Group Ltd, Burmarrad Group Ltd, and V&C Investments Ltd (also part of V&C Group).

OS Developments Limited is another company whose shareholders include TUM Invest Limited and BT Group Limited.

Trident House was initially valued at just over €11 million in January 2022, revalued to €18 million in January 2023, and then increased to €20 million in January 2025. The sale price of €29.25 million is €9.25 million higher than the property’s latest book value.

It is currently partially leased, generating an annual rental income of €335,579, with the lease set to expire in 2026. Once the final deed of sale is completed, the property will no longer be part of Trident Estates’ portfolio, and the company will cease to receive rental income from it.

The property and includes offices, warehouses, parking areas, and undeveloped land.

Trident House is the complex to the right of the roundabout, with the MaltaPost head office further long the road. The site just visible at the bottom right is Centerparc

The property, which spans approximately 13,593 square meters, comprises three parts: a warehousing and office facility with parking (currently occupied by Quinco Holdings plc, formerly the food division of Simonds Farsons Cisk plc), an undeveloped plot of land, and a section of land forming part of a neighbouring car park.

The proceeds from the sale are expected to be used for acquiring new properties, refinancing existing debt and supporting general working capital needs.