Madrid´s Community Asks Millions For Three Buildings

20/03/2014 – Cinco Dias

The Community of Madrid put up for an auction three single properties in Madrid. The largest building is situated at 20 Gran Vía Street. The asking price, according to Addmeet that is coordinating the sale, is €19.9 million. The property was built in 1922 and destined to host office, hotel, trading premises, administration, healthcare, cultural, entertainment/recreation, sociocultural, educational, sports, religious organizations or be of multi-family use.

It is an 11-floor building of 4.500 square meters. Average yield represents 15.29 €/sqm/month.

The next property is located at 6 Santa Catalina Street and was constructed in 1860. In total, it covers 3.670 square meters intended for office, hotel, administration, healthcare, cultural, entertainment/recreation, sociocultural, educational, sports facilities or religious organizations. This building starts-off with €10.1 million.

The last one is also the cheapest. It is found at 34 Los Madrado Street and costs €9.4 million. The building was built in 1910 for the same use as the other two properties.



Original article: Cinco Días (Fernando Sanz)

Translation: AURA REE