Catalonia Expects to Earn €400 Mn From Building Sales in 2014

22/04/2014 – Expansion

Since January up to now, the regional Government of Catalonia has earned €65.6 millon from sales of four buildings. Patrimony managing director of the institution, Salvador Estapé, claims that at the end of the year the sales of the 13 buildings put up for auction at €215 million offering price and the Casa Burés building sold for €20.8 million shall be added to the overall account and give €300 million income.

In order to reach the €400 million income, the local government would have to sell “a few buildings more” held within margin. However, the lot would be much smaller than the 13-building one mentioned above, containing such iconic buildings as the Department of Welfare and Family headquarters at 266 Passeig del Taulat Street (€35.25 million) and the office complex of the Department for Home Affairs on the Passeig de Sant Joan Street sold for €30.77 million.

Also, the district of Salut´s territorial servicers located at 134-146 Pere IV Street are jointly available for €28.46 million and the Department of Justice at 24-26 Casp Street for €23.48 million, among other noteworthy properties.

With view to selling the real estate found in Catalonia, the local entity participated in a trade fair in Cannes (France) and is planning to meet with investors in London, Barcelona, the New York and Madrid. 
Estapé stressed an enormous interest shown on the part of the U.S. and the European funds, as well as of the Asian investors. 




Original article: Expansión

Translation: AURA REE