Banco Sabadell Finalises Purchase of the Planeta Building in Barcelona

24 May 2018 – Eje Prime

Firstly, some of the tenants vacated Edificio Planeta and now the property itself looks set to change hands. The iconic asset belonging to the Lara family, owner of the publishing group that gives it its name, located in the centre of Barcelona, is very close to ending up in the hands of Banco Sabadell.

The Spanish bank is finalising the purchase of the building, taking advantage of the debt restructuring process that the Hemisferio group is currently undertaking. Moreover, in this regard, Sabadell may have required the resignation of José Lara García as director, according to La Vanguardia.

Owned by Planeta since 2001, the property will lose the multinational publicity group McCann as a tenant on 31 May; that firm is moving to a newly renovated building in the most sought-after business centre of the Catalan capital, 22@, as reported by Eje Prime.

Constructed in 1979, Edificio Planeta, which cost the publishing group €100 million, is the fruit of work by the architects Tous and Fargas, who received the commission from Banco Industrial de Catalunya. Its surface area of 26,000 m2, spread over three octagonal towers, will form part of Sabadell’s portfolio. As such, the entity will acquire an asset situated very close to the towers of its competitor, La Caixa.

Original story: Eje Prime 

Translation: Carmel Drake

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