• Transaction / Assets
    Building at c/Sant Rafael 18 (Barcelona)
  • Seller
  • Buyer
    Family office
  • € MM

A Family Office Buys a Mixed-Use Building in Centre of Barcelona for €7M

19 April 2018 – Mis Locales

The real estate consultancy firm Laborde Marcet has brokered the sale of a building for more than €7 million in the heart of the El Raval neighbourhood, in the district of Ciutat Vella. The property, located at number 18 Carrer Sant Rafael, has been purchased by a local family office.

Completely renovated, the building comprises five commercial premises and homes spanning around 70 m2 each, most of which are furnished. The average price per square metre exceeds €3,300/m2 and the yield amounts to 3.5%.

Gerard Marcet, founding partner at Laborde Marcet, says that “these types of buildings enjoy the locations, yields and prices that fit perfectly with the objectives of many investors. They are safe assets and so they are not associated with property speculation or very high returns and risk, but rather they are suited to investors who want good stable properties that will generate fixed returns and protect their wealth against future inflation rises, given that the rents are linked to variations in CPI”.

Ciutat Vella, a district that forms part of El Raval, attracts many operations for both the purchase of buildings and the purchase and rental of commercial premises. In fact, a vast proportion of the operations brokered by the Retail team at Laborde Marcet are located in that area of the city. In this way, over the last year, the consultancy firm has advised large brands from the beauty, fashion and restaurant sectors, such as Primor, Visionario, Toni Pons, Aragaza, Celeste, Change Group, ARTEspañol and The Ranch SmokeHouse for the rental of premises in strategic areas of Ciutat Vella.

Original story: Mis Locales

Translation: Carmel Drake