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offices Market News: Spanish Real Estate Intelligence

Andalusian Regional Government to Sell Land and Buildings Worth €320 Million
15 October 2019 The Andalusian regional government is preparing an auction of unused buildings and plots of land. The region’s General Directorate for Heritage has begun the process to sell, in a series of separate auctions, tens of thousands of square meters of land and of unused buildings. The public auction is expected to raise as much as 320 million euros, according to the draft budget for 2020. The government has already announced the first sale, 22 properties with a base price of 47.1 million euros, though Andalusia hopes to raise much more. After that, the government plans to sell a batch of urban plots of land in the first quarter of 2020. Original Story: ABC de Sevilla - Antonio R. Vega Adaptation/Translation: Richard D. K. Turner
 
Andalusian Government to Sell Former Post Office Building in Málaga
14 October 2019 The former Post Office building in Málaga will finally go on sale after a decade vacant, as the Andalusian government has approved its sale after lifting a €2.14 million embargo on the property. The sale comes at a time when the local real estate market is in an upswing, and potential investors have taken an interest in the property. Zoning laws in the city, however, state that the property must be used as residences for students or senior citizens, or as a university centre or hospital. Market sources believe that gaining municipal approval to convert the property into use as a hotel would be a lengthy and complex process. The Andalusian government has set a base price of just over 16.8 million euros, somewhat lower than the €19-million price a valuation gave it a few months ago. Interested parties must contact the government by November 14. Original Story: Málaga Hoy - Sebastián Sánchez Photo: Javier Albiñana Adaptation/Translation: Richard D. K. Turner
 
Trinitario Casanova’s Baraka Group to Build Hotel in Valdebebas
14 October 2019 The executive Trinitario Casanova is planning on building a new hotel in Madrid Norte, the capital’s new residential area, between Valdebebas and Operation Chamartín. Casanova’s Baraka Group confirmed that it would develop the new hotel on a 38,000-m2 plot of land its owns near to the Real Madrid sports complex and the access to Madrid-Barajas airport. The project reportedly also includes plans for rental offices on the same site. The area where the hotel will be located is in the 'Valdebebas Fintech District' in the new Madrid Nuevo Norte in the north of Madrid, where 11,400 new homes are already under development. Original Story: La Información - Ana Sánchez Juárez Adaptation/Translation: Richard D. K. Turner