• Transaction / Assets
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Altadis Sells Its Old Headquarters to GMP For €30 Mn

17/07/2014 – Expansion

The property of a 13.058 square meter area has stood empty ever since the branch of Imperial Tobbaco moved out to its new offices in the Cristalia Business Park of Metrovacesa in summer 2010.

Today, Altadis transfers the old premises situated at 10 Eloy Gonzalo street in Madrid to GMP as a part of its non-core asset divestment plan. The new owner will carry out an integral rehabilitation and a renovation of the unit´s facade.

Neither of the companies revealed the transaction price but real estate sources claim it have reached €30 million.

The property will be placed inside the portfolio of buildings GMP possesses in the downtown Madrid, at 27 Genova st., 3 Hermosilla st. and at 81 Castellana st. occupied by BBVA, to name just a few.

At the moment, GMP plans its future acquisitions and seeks a partner who would take a minoritary stake in the firm.


Original article: Expansión (by R. Ruiz)

Translation: AURA REE