land Market News: Spanish Real Estate Intelligence

The regional Government is going to put up for public tender 193 buildable plots with a combined surface area of almost 1 million square metres and a market value of around €256 million.

Many of the assets are urban plots that are ready to be built on, with an average price of €181,800.

The former owners of Santander's Ciudad Financiera have acquired 250 hectares in the Madrilenian municipality of San Martín de Iglesias to build homes and a hotel.

The project backed by the fund Castelake whose objective was to build 240 homes has been paralysed because the current mayor of the town wants to assess whether the sale of the plot was legal.

The company has purchased 85,000 square metres of land from the company Big Blue for around €20 million and plans to invest €60 million in the project in total.

These public plots, which span a buildable surface area of 151,651 square metres, will allow for the construction of more than 2,000 affordable rental homes.

Aena has asked Willis Lease Corporation to move its maintenance and scrapping plant in Jerez onto land near the airport, but which does not belong to the semi-public state company. Aena would bear the connection costs between the land and the airport's runway.

On average, prices could fall by between 5% and 6% in 2020 in the worst of the post-crisis scenarios, according to the consultancy CBRE.

The investment group has acquired 1,220 hectares between La Peñaza and Centrovía for a sum exceeding €10 million.

Valencia Football Club has broken the agreement with the cooperative that was going to acquire the plots of the former Mestalla stadium. The planned sale, which was expected to raise around €140 million was going to allow the club to restart work on the Cortes Valencianas stadium.