245
245
  • Transaction / Assets
    Mestalla plots
  • Seller
    Valencia CF
  • Buyer
    ADU Mediterráneo
  • € MM
    115

ADU Purchases the Mestalla Plots from Valencia FC for c. €115M

17 April 2019 – Idealista

The manager ADU Mediterráneo and CONCOVI (the Confederation of Housing Cooperatives in Spain) has reached an agreement with Valencia CF to purchase the plots on the site of the current Mestalla stadium.

It is the largest land transaction to be signed for a decade in Valencia, with a surface area of 97,225 m2, of which 55,769 m2 will be dedicated to residential use and 41,456 m2 for tertiary purposes.

According to the newspaper Las Provincias, the consideration for the deal could amount to more than €115 million. Valencia FC will move to its new stadium during the 2022-2023 season. CBRE will exclusively manage the sale of the tertiary and residential properties.

Original story: Idealista 

Translation/Summary: Carmel Drake