• Transaction / Assets
    1,512 m2 plot, Barcelona
  • Seller
    The Public Company responsible for the development of the new La Sagrera station
  • Buyer
    Corp Promotors
  • € MM
    10.4

Corp Promotors Acquires Plot Next to La Sagrera Station in Barcelona for €10.4M

17 October 2018 – Europa Press

The real estate company Corp Promotors has acquired a plot of land spanning 1,512 m2 located next to the future La Sagrera AVE train station in Barcelona for €10.44 million.

The Catalan firm has fought off competition from three companies in the bid for the plot, which was opened by the public company responsible for the development of the station, an entity in which the Ministry of Development, La Generalitat de Cataluña and the Town Hall of Barcelona all hold stakes.

The plot, which is located in an area that has “great potential for growth” in Barcelona, can be used for building both homes and commercial premises.

Specifically, it has a buildability of 8,221 m2, of which 7,346 m2 will be used for homes and the remaining 875 m2 will be used for shops.

The land forms part of the plots freed up for railway use generated by the construction of the station. The amount obtained from its auction will contribute to financing the new railway.

In fact, the joint venture company that is developing the station has obtained 63% more than the estimated sales price for this plot, of €6.4 million. That was what allowed Corp Promotors to acquire the land and fight off competition from the other three firms that were also bidding for it.

The company behind the construction of La Sagrera station is owned by the Ministry of Development through its companies Adif, which holds a 37.5% stake, and Renfe, which owns another 12.5% stake. The Town Hall of Barcelona owns 15% and La Generalitat the remaining 25%.

Original story: Europa Press

Translation: Carmel Drake

100