Madrid Puts New Properties Up For Auction Asking €13 Mn

29/04/2014 – El Economista

The Community of Madrid sells two buildings of joint 7.554 square meters for €12.86 million. One of them is situated at 29 Madroños Avenue (Hortaleza district) and the other at 3 Braganza Street (Carabanchel).

The first unit of 4.074 square meters which houses the Chamber of Accounts has got a listing price of €7.98 million and brings a 6.74% return. The building is leased by the Community of Madrid for the next five years with a withdrawal option in the third year.

In turn, the other building hosts the Department of Finance and Taxation (Public Housing Information Office) for upcoming 15 years. Its total area covers 3.480 square meters, asking price reaches €4.88 million and this property gives a 4.89% return.

Detailed information about the buildings on sale may be found on portal misoficinas.es. 

 

Original article: El Economista

Translation: AURA REE

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