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land Market News: Spanish Real Estate Intelligence

VGP Acquires a 15,000-m2 Plot of Land in Cheste
19 November 2019 - The logistics developer VGP has acquired a more than 15,000-m2 plot of land from the Generalitat Valenciana’s Circuito del Motor y Promoción Deportiva (CMPD). The state-owned firm put the asset up for sale in August at an initial price of 2.7 million euros. VGP was the only bidder. The land is located near the A3 Valencia-Madrid highway and is a part of the Cheste Circuit Business Park sub-division project. The public company currently has no plans to sell its second plot of land in the area, located near to the Ricardo Tormo Circuit. The company has been the only one to present an offer. Zoned as urban land for commercial or industrial use, the plot of land has an area of ​​15,360.66 square meters and a buildable area of ​​9,984.43 square meters. Original Story: Valencia Plaza - Begoña Torres Adaptation/Translation: Richard D. K. Turner
 
Serprocol Acquires Plot of Land in Madrid for €3 Million
19 November 2019 - Serprocol has finalised its acquisition of a plot of land at Calle José Basbastre 10 in Madrid for more than three million euros. The real estate cooperative plans to build a 26-unit development with two to three bedrooms and an underground garage. The firm obtained financing from Stoneweg, which recently launched a €50-million fund for financing real estate deals. Sales for the flats at Calle José Basbastre 10 began during the last quarter of 2018 and are expected to continue through to the second quarter of 2020. By the end of last month, Serprocol had already sold 69% of the flats (18). The 5-floor apartment building will have a shared solarium and spa on the terraced roof. Original Story: Eje Prime Photo: Idealista Adaptation/Translation: Richard D. K. Turner
 
Amenabar Wins Bidding for Ferrovial’s Land in Valdebebas
8 November 2019 – Amenabar won the bidding for a plot of land put on sale by Ferrovial in Valdebebas, just in front of the Cercanías RENFE stop in Madrid. The firm won out over Vivenio and Acciona, offering 56 million euros for the developable land. Amenabar has thus consolidated its position as the largest developer in the region, where it will build a total of nine developments, with approximately 1,000 new homes. The sale fell in line within Ferrovial’s expectations, which had been around €2000/m2. The land measures a total of 27,200 m2, 22,700 m2 for residential development and 4,500 m2 for commerce, enough for roughly 230 new homes. Knight Frank provided Ferrovial with advice on the transaction. The region of Valdebebas has seen several major transactions in recent months. A few months ago, Acciona also paid about €2,000/m2 (63 million euros) for a 31,700-m2 plot of land from Celteo. The land, which is located nearby Amenabar’s new asset, has enough land for about 260 homes. Original Story: El Confidencial - Elena Sanz Adaptation/Translation: Richard D. K. Turner