Solvia Leases CAM’s Former HQ in Valencia to an Architecture Firm

5 July 2018 – Eje Prime

Solvia has found a tenant for CAM’s former headquarters. The real estate arm of Banco Sabadell has just completed the rental of this asset, located at number 22 Calle Pascual and Genís in Valencia, to the architecture firm Join Contract. The new tenant of the property is going to remodel it to convert it into a luxury hotel, according to Valencia Plaza.

The duration of the rental contract may extend to thirty years. CAM’s former headquarters has been empty for the last four and a half years, after Solvia, which used to occupy the property, decided to move to the Ciudad Gran Turia at the end of 2013.

The building, constructed in 1916 by the architect Francisco Javier Goerlich Lleó for the Niederleitner family, spans more than 4,500 m2 spread over nine floors: two underground parking floors, one ground floor, a mezzanine level, four regular floors and the attic.

Join Contract, administrated by Óscar Nácher, is still deciding what to do with the premises on the ground floor. The new tenant is debating between opening a restaurant there or leasing it for commercial use, given that the site is very close to busy Calle Colón.

Administrated by Valencian businessmen from the hotel sector and with 25% of its share capital owned by foreigners, Join Contract already signed a similar operation last year to convert the former headquarters of the Regional Ministry of Industry on Calle Colón in Valencia into a luxury hotel.

Original story: Eje Prime

Translation: Carmel Drake