4 May 2019 – Expansión
Telefónica is on the verge of selling its headquarters in Barcelona for more than €150 million in a sale and leaseback operation that will see the group continue to occupy 8 floors of the property, but on a rental basis.
The 16-storey skyscraper, known as Diagonal 00, has a surface area of 34,000 m2 and is located next to the Fòrum on the edge of the 22@ district. The property was constructed by the Consortium of the Zona Franca in Barcelona (CZF) as a turnkey project for Telefónica, which moved in in 2011.
The telecommunications giant went on to purchase the property from CZF in 2014 for €107 million plus VAT (€129.4 million) and is now selling it as part of its debt reduction process, which has already seen it divest businesses in Central America and the insurance company Antares.
Original story: Expansión (by M. Anglés & I. del Castillo)
Translation/Summary: Carmel Drake