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OHL Pre-Sells Half of the Luxury Apartments in Canalejas

28 December 2017 – El Independiente

The pre-sales of luxury apartments in the Madrilenian Canalejas complex, the only one in Spain – and one of just a few in Europe – to be serviced by the hotel chain Four Seasons, is going from strength to strength. Knight Frank and Colliers, the two firms that have been exclusively appointed to manage their sale, have already placed almost half of the homes with their contacts and clients during the private launch, in other words, before the For Sale sign has been officially put up, according to sources speaking to El Independiente.

Even the penthouse, the jewel in the crown of the building promoted by Juan Miguel Villar Mir, together with his construction firm OHL, has an owner: a European millionaire, who is going to pay more than €9 million for a 500 m2  home in one of the most iconic areas of Madrid.

To date, most of the homes on this block of prime Madrilenian real estate in Canalejas – next to the Puerta del Sol – have been sold to wealthy Spanish families even though, initially, they were expected to attract interest from foreign millionaires, specifically, Latin Americans. “Wealthy families from Latin America prefer the traditional and exclusive Salamanca neighbourhood, whilst Spaniards are more interested this concept, which is going to revolutionise the centre of Madrid”, explain sources in the real estate sector.

The 22 most expensive new build homes currently available in Madrid have a minimum surface area of 130 m2 and a minimum asking price of €2.5 million, which means that buyers paying more than €13,000/m2. The combined value of all of the homes amounts to around €90 million.

The apartments are located on the 5th, 6th, 7th and 8th floors of the Canalejas Complex, have between one and three bedrooms each, have independent access (as well as through the Four Seasons hotel) and will be handed over completely finished and equipped, with the exception of furniture.

The homes form part of a complex that comprises seven historical buildings, which in recent decades housed the former headquarters of Banesto, Central Hispano and Zaragozano.

For the time being, most of the homes have been reserved by Spanish millionaires.

The complex spans a surface area of 50,000 m2 in total and in addition to the twenty homes, is going to house a five-star Four Seasons hotel with 200 rooms, an underground parking lot with 400 spaces, a retail outlet for bank use and a 15,000 m2 shopping arcade.

Original story: El Independiente (by Ana Antón)

Translation: Carmel Drake