Iberia’s Former HQ in Barcelona is Being Converted into Luxury Apartments Costing c. €15,000/m2

4 April 2019 – El Confidencial

The fund Twin Peaks Capital is on a mission to convert Iberia’s former offices in Barcelona into 21 super luxury homes. The prices of the new properties at number 30 Paseo de Gracia are expected to go on the market for between €11,000/m2 and €15,000/m2. The penthouse might even fetch €19,000/m2, breaking all previous records in the Catalan capital and even higher than the most expensive prices in Madrid.

Twin Peaks Capital purchased the neoclassic style building from the former Agrupació Mútua in 2017 for €25 million. The property spans a surface area of almost 4,000 m2 distributed over five storeys, plus an attic, and the future homes will measure between 80 m2 and 270 m2, with first-rate finishes, plus common areas with terraces and a stunning swimming pool on the roof.

The properties will be marketed by BNP Paribas Real Estate and 25% of the development has already been sold, mostly to Catalan buyers and investors. The homes are expected to be ready during the second quarter of 2020.

Original story: El Confidencial (by E. Sanz)

Translation/Summary: Carmel Drake

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