Transaction / Assets Seller Buyer € MM
Defence Earns 14 Million Euros by Selling Two Plots
The Ministry of Defence closed the sale of two plots: in Ibiza and in Seville, as a part of the deference accorded to the real estate assets plan for the Public Administration approved this year.
The last asset transferred was the Quartermaster’s Barracks in La Oliva in Seville. The parcel covering more than 47.000 square meters having development potential of 28.915 square meters, has been sold at the auction by Addmeet. The sale price was set at about 6 million Euros (128 €/m2) paid by Inmobiliaria del Sur.
The plot, adjacent to the Real Club Pineda of Seville, could be used either for residential (there may be built up to 228 dwellings), hotels or for fixture and fittings purposes.
Awarding of the Quartermaster’s Barracks was granted only few days after the Defence had transferred another plot in Ibiza´s port. The land of 5.137 square meters has been sold for 8.5 million Euros to an Italian businessman, Giuseppe Cipriani. Its touristically attractive location and the opportunity to built both a hotel or properties for commercial and entertainment use, set the price up at 1.577 Euros per square meter.
In total, the Defence gained 14 million Euros. It is the Ministry holding the biggest number of assets for sale (almost 7.000) in the lot of the property that the State put on sale (15.000).