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Barceló Wants to Switch From Ownership to Tenancy

10/07/2014 – Expansion

The Barceló Group has decided to earn some money on its real estate and sell the historic headquarters in Palma de Majorca.

The 4.000 square meter property for sale is situated on the Josep Rover Motta street in Palma. The asking price sets between 8 and 9 million euros. JLL handles the transaction.

Barceló wants to sell the building and sign a long-term tenancy agreement (minimum for 5-7 years), just like Santander or Ferrovial did.

Investors immediately smelled the opportunity out, especially the family offices which regularly invest in this type of assets and the offer additionally appeals with a firm solvency of the future tenant.

Nearly a dozen of bidders have already submitted their proposals.

 

Original article: Expansión (by Rocío Ruiz)

Translation: AURA REE