Atlético de Madrid will Sell the Calderón Land in Q1 2019

2 February 2019 – Expansión

Following the demolition of the stadium, the club will be able to sell the plots where 600 homes are expected to be built.

The project to urbanise the Mahou-Calderón area, which will convert the surface area currently occupied by Atlético de Madrid’s former stadium into homes and tertiary use, has taken a step forward. Within the next few weeks, work is expected to start on the demolition of the Vicente Calderón, which will enable progress to take place with the reparcelling and subsequent sale of the land.

The Madrilenian club, owner of 50% of the surface area, will then be able to proceed with the sale of the land, which has a surface area of 14,866 m2 and a buildability of more than 63,000 m2. On this plot, between 550 and 600 homes may be built, with prices of around €6,000/m2.

Besides the Madrilenian club, the other owner of the land is Mahou San Miguel. The brewery company has not yet taken a decision regarding the sale of its share.

Candidates

Sources at the club have indicated to Expansión that several parties are interested in these plots, which constitute the last major stock of land left inside the M-30. The potential buyers of the plots include investment funds, property developers, joint ventures between the two and cooperatives. “We are holding very advanced negotiations with three of them with the idea of formalising the operation this quarter”, they state.

In terms of the timings, once work has started on the demolition of the stadium, which is expected to begin in the coming days, the reparceling project will continue, which will last for the months of February and March. Once the plots have been registered in the registry, they will be available for sale. The Project will carry out the urbanisation and building work at the same time in such a way that the homes could be ready within three or four years (…).

Original story: Expansión (by R. Arroyo & E. Santos)

Translation: Carmel Drake

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