• Transaction / Assets
    Ceade's Former HQ, Sevilla
  • Seller
  • Buyer
    An investor group
  • € MM

An Investor Group Buys Ceade’s Former HQ in Sevilla from Altamira

14 December 2018 – Real Estate Press 

The property has a surface area of almost 5,000 m2, distributed over a basement floor and three upper floors. The amount of the operation has not been revealed. The former headquarters of Ceade is being added to the list of buildings that have been sold in recent years, such as the Vorsevi building, which has now been converted into a business centre, the Andalucían Institute of Technology, which is now occupied by Prodiel, and the former Cruzcampo Pavilion, which is going to host a centre for flamenco shows.

The investor has informed the manager of the Technology Park that it is going to house a project linked to teaching and higher education. One of the possible uses could be as a hall of residence for students, which “would oblige it to undertake a comprehensive renovation, involving demolitions, floor overlays and the creation of a new layout to achieve a centre with around fifty rooms as a result”.

The General Urban Plan of Sevilla provides for the social use of the La Cartuja area, and so legally, the construction of a hall of residence is possible. In fact, these types of initiatives are attracting interest from numerous foreign funds to the Andalucían capital.

Nevertheless, the management company of the La Cartuja Technology Park, which reports into the Ministry of Employment, is not in favour of the venue hosting any type of residential projects, and even more so at a time when the interest from companies in being located in this enclave is growing.

A pioneering initiative within the park  

The La Cartuja Science and Technology Park is predominantly a business space, where almost 500 companies live alongside each other, and where they are also public administration centres, health clinics, theatres, an amusement park and three hotels, the Renaissance, the Eurostars, and the Exe for the Olympic Stadium. The project in Ceade’s former headquarters would be the first of a residential nature.

Original story: Real Estate Press

Translation: Carmel Drake