9 October 2019 – Major players in the Spanish electricity sector are following the lead of many banks and beginning to sell off their real estate holdings. Just a few days ago, Iberdrola announced that it would sell a plot of land within Madrid’s M-30, for which it expects to receive about 30 million euros. Now, another electricity company, Naturgy, has also stated its intention to sell land. The plot of land is located just in front of the Google Campus, in the district of Arganzuela, near the neighbourhood of La Latina.
Specifically, the asset is located at the junction of the Mazarredo, Moreno Nieto and Juan Duque streets. Part of the area has an electrical substation. The plot of land on sale has a surface area of 3,191 square meters, 1,568 meters of which are occupied by the Naturgy electrical substation.
Zoning for the area would allow for a total of 3,444 square meters for tertiary/residential, infrastructure services, green areas and roads. Of that, 1,444 square meters could be allocated for offices, stores or residential use and 2,000 meters for public uses – 1,000 meters of green areas and another 1,000 meters for infrastructure.
Original Story: El Confidencial – Elena Sanz
Adaptation/Translation: Richard D. K. Turner