• Transaction / Assets
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Madrid auctions a building for 42 million Euros after the success of the last bids.

The regional government of Madrid has seen the real interest of foreign investors in well located, fair priced products with immediate profit, and has decided to put its real estate jewels on sale.

Yesterday, Ignacio González put  up  for  auction the  building that  houses the  General Directorate for Financial Politics, Treasury and Patrimony of the regional Ministry of Economy and Treasury. The building is located in Plaza Chamberí, 8 and the starting price is 42,2 million Euros, with a yield for the investor close to 5,5%.

An office building, but also with residential use, located in the Almagro neighborhood, beside the Paseo de la Castellana, with almost 12.000 square meters distributed in 10 floors, and where the regional government of Madrid will continue as a tenant for 10 years.

The building is not subject to any type of protection and has a basement of nearly 4500 square meters and 177 parking spaces. (…)

Source: El Confidencial