• Transaction / Assets
    2 buildings on c/Gayarre (Barcelona)
  • Seller
  • Buyer
    MK Premium
  • € MM
    1.5

MK Premium Buys 2 Residential Buildings In Barcelona

15 November 2017 – Inmodiario

MK Premium, the family-owned real estate company, has just acquired two new buildings in the city of Barcelona, on the same street. With a total investment of €1.5 million, the two buildings, located in the Sants neighbourhood, specifically on Calle Gayarre, at numbers 38 and 42, have a combined surface area of 1,082 m2.

“We were presented with the opportunity to acquire the two buildings, which are almost next door to each other, at the same time. These properties date back to the end of the 19th and beginning of the 20th centuries and are located in one of the fastest growing areas of Barcelona in terms of population. The two buildings have a combined surface area of more than 1,000 m2 and contain 9 homes, plus one retail store, with the individual surface areas ranging between 70 m2 and 88 m2. Despite the political situation in Cataluña, the real estate market is still active; the outlook for the last two months of the year is very good”, said Daniel Leiva, Founding Partner at MK Premium.

The property on Calle Gayarre, 42 dates back to 1900, and has a total surface area of 660 m2, comprising 6 homes; whilst the building located at number 38 is older, dating back to the end of the 19th century (1878), comprising 3 apartments and a retail store, with a total surface area of 424 m2 (…).

From these two buildings, located in one of the most well-connected parts of the Catalan capital, MK Premium expects to obtain a profit of 8% from the rental of each one of the homes, but not before subjecting both properties to a comprehensive renovation process, to restore the two iconic buildings to their former glory. (…).

These two latest acquisitions take MK Premium’s portfolio to 94 assets in 2017. The company expects to close one of its best years ever, at a time when it has completed its expansion plans, by opening an office in Madrid, on Paseo de la Castellana.

Original story: Inmodiario

Translation: Carmel Drake

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