Transaction / Assets Seller Buyer € MM
Embassy of Canada Sells Old Headquarters in Madrid
The Canadian Government has finalized the sale of its old embassy office in Madrid, four years after abandoning the property.
The old headquarters is located between Núñez de Balboa and Goya Streets in Madrid. They include 1.279 square meters of office space and 15 parking spaces. The Canadian unit left the location in 2010 and moved to Torre Espacio, one of the skyscrapers of the Cuatro Torres complex. The building owned by Villar Mir also hosts British, Australian and Dutch Embassies.
The embassy became a tenant instead of an owner. “(…) the new occupant will be IFR business school”, according to real estate sources. “There ought to be conducted renovation works in order to make the space more open before moving in. (…)”. ” The transaction is an example of growing interest in the purchase of offices in Madrid due to the general fall in prices observed throught the last years” – says Ignacio Sagüés from the consultant company DTZ assisting at the operation.