• Transaction / Assets
    10,000 m2 residential plot (Madrid)
  • Seller
  • Buyer
    Calendonian
  • € MM

Caledonian Buys 10,000 m2 of Land in Central Madrid For Residential Development

14 September 2018 – Eje Prime

Caledonian has increased its land portfolio in Madrid, but this time it has done so in the centre of the Spanish capital. The property developer has purchased a plot spanning 10,000 m2 in the Chamartín district of the city centre. The company plans to construct a residential development on the site, which it will add to the two that it already owns in the municipality of Pozuelo de Alarcón.

The objective of the construction company is to convert an industrial plot into a residential one. On the site, located on Calle Javier Ferrero, the company is planning to build different types of apartments with between one and four bedrooms.

Like on other occasions, Caledonian is going to collaborate this time with the architecture studio MK27, led by the Brazilian Marcio Kogan, to carry out the design of the urbanisation. The development will also have common areas with a gym and indoor and outdoor swimming pools.

The company, founded in 1998 by Enrique López Granados, plans to start work on the construction of the homes at the beginning of 2019. The project managers confirm that the construction work will take approximately one year.

Caledonian’s turnover in 2017 amounted to €25 million. The firm focuses its activity on the north-west of Madrid with projects that include several residential developments containing more than thirty homes.

Original story: Eje Prime

Translation: Carmel Drake

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