land News: Spanish Real Estate Intelligence

Andalucía Offers 800,000 Sq. Meters of Industrial and Residential Land for 2,625 Homes
  07 August 2017 A total of 795,843 square meters, distributed in 749 plots of industrial, tertiary and endowment land, and a residential area with a capacity for 2,625 dwellings, in the large part subsidised housing, is the focus of a new auction launched by the Ministry of Development and Housing of the Andalusian Regional Government. The offer, the third of the fiscal year, includes plots of land throughout the provinces of Andalusia and will remain open until October 9. The income generated by this activity is contributing, among other things, to address new investments in housing development that were affected by the impact of the economic crisis. The call has two modalities: one destined for the sale of free residential (unsubidized housing), industrial, tertiary and endowment lands, as well as garages, commercial premises and storage rooms; and another one in which land allocated for the development of subsidised housing will be offered. The latter includes 103 plots, with a total of 101,328 square meters for 1,552 homes and a price of €24.3 million. The plots of land are distributed over Andalusia’s eight provinces, although Cadiz and Granada are two that concentrate the largest areas, 25,181 square meters the first and 24,104 square meteres in the province of Granada. Córdoba will have 19,572 square meters and Seville 11,844 square meters. Those taking part in the auction will not be able to bid above the fixed prices, but will compete by offering improvements to facilitate the access of the most disadvantaged groups to the homes that are eventually built on those lands. In the public offer for the sale of industrial and residential plots of lands for unsubsidised housing there will be competition in the prices proposed by the bidders, so that the parcels will be awarded to the highest bids. The base prices of these lands total 41.2 million euros. In this modality, the auction will include 432 plots of industrial land, totalling 538,181 square meters. Jaén is still the province with the largest offer, 278 plots with 309,745 square meters, followed by Almería, with 122 plots and 131,661. In the auction for unsubsidised housing, 214 plots with a base price of 35.7 million and a total of 156,334 square meters, with a capacity for 1,073 homes, are on offer. In this case, it is the province of Cadiz which is offering more land, with 106,061 square meters, although almost all that land, 100,071 square meters, is in Costa Ballena, Chipiona. Almería is offering 71 plots with a total of 16,407, while Jaén is contributing with 35 plots with 15,082. The auction also includes 234 garages, 113 commercial premises and eight storage rooms, with a total price of 19 million. In addition, a public auction for the sale of free residential land owned by the autonomous community has been announced, which incorporates assets which are managed by the General Directorate of Patrimony of the Board to AVRA. 15 plots with a total area of ​​4,773 m2, capacity for 16 homes and a total price of 757,476 euros will be included in this offering. This is the third land sale auction issued by the Ministry of Development and Housing, through the Housing and Rehabilitation Agency of Andalusia (AVRA), this year. In the previous ones, held in March and May, industrial, tertiary and residential capacity were sold with a total area of ​​56,323 square meters and an award amount of 8.6 million euros. The residential land has a capacity for 133 dwellings. At the end of the year another offer will be launched with which the sale program for the current year will be closed. Since the Ministry of Housing Development adopted the decision to consider land management as one of the strategic lines of AVRA activity, 255,119 square meters of land have been sold, with capacity for 944 residential homes. These lots were raised 39.5 million euros. Original Story: Inmodiário Translation: Richard Turner  
Segro Acquires 5.3ha Plot In San Fernando De Henares

2 August 2017 - Press Release

Segro, the British investment fund that specialises in the logistics sector, has acquired a plot of land in San Fernando de Henares, Madrid. The plot has a surface area of 5.3 hectares and is located 17km away from Madrid, at the intersection of the A-2 and M-50 motorways, to the south east of Barajas airport.

The plot acquired by Segro is currently leased to a group that plans to operate the site as a logistics service centre for automobiles until 2022. This operation forms part of Segro’s strategy in Spain, which involves developing modern logistics facilities and urban buildings to support high-quality and sustainable distribution.

With this new acquisition, Segro is strengthening its presence in the Spanish market, where it is positioning itself as one of the major investors and developers in the logistics sector.

“San Fernando de Henares has become a key location, with several projects due to be launched over the short to medium term. This acquisition strengthens our position in Spain, in a strategic place that is just 17km from Madrid and it will allow us to build a logistics centre in a few years”, said David Alcázar, Director of Segro España (…).

Segro launched its activity in Spain in 2015 and since then has built up a portfolio containing five assets, covering a combined surface area of 120,000 m2 (constructed or under development) in strategic locations on the outskirts of Barcelona and Madrid.

Original story: Press Release

Translation: Carmel Drake

Hispania Buys 2 Plots In Canary Islands For €13M

31 July 2017 - Idealista

Hispania is pushing ahead with its strategic plan and, to this end, has completed the purchase of two plots of land on which it will build 2 luxury resorts. The plots of land acquired by the Socimi for €13 million are located in the Canary Islands, specifically, in Lanzarote and Fuerteventura.

In addition to hotel resorts, the objective of the investment vehicle, in which the magnate George Soros holds a stake, is to incorporate retail, leisure and sports facilities into the complexes. The project looks set to involve a total investment of around €50 million in the case of Lanzarote alone.

Hispania already owns the Occidental Playa and Barceló Lanzarote hotels, and based on the plans that it has in mind, the five-star complex would contain more than 1,000 rooms, which would make it the largest establishment in Hispania’s portfolio. In Fuerteventura, the Socimi also owns several properties, including two hotels that it purchased in the summer of 2015 for just over €100 million.

Over the last week, Hispania has been in the news for several reasons. Firstly, it is negotiating the sale of 24 office buildings for around €500 million; the insurer Swiss Life is the final candidate in that process.

In addition, the Socimi saw the stock market debut of the investment vehicle that it shares with Grupo Barceló (known as Bay Hotels & Leisure), which started trading on 20 July with a market value of almost €500 million.

Original story: Idealista

Translation: Carmel Drake