Tag: co-working offices

E&V: Co-working, e-commerce – New Niches Boom in the Spanish RE Market

2 April 2019 – El Confidencial

The Spanish tertiary sector is consolidating its position as one of the most attractive in the world. Investment rose by more than 10% in 2018 to €12.3 billion, boosted by overseas investors, who accounted for 65% of all operations, according to a report published by Engel & Völkers.

Moreover, this interest is set to maintain its momentum over the coming years. In 2019, logistics is expected to continue its upward trend in light of the unstoppable growth of e-commerce. In the office sector, experts forecast on-going diversification, with demand growing for regular offices on the outskirts of cities, as well as for co-working spaces in the centre of large capitals.

In the alternative asset segment, interest is also expected to continue, especially in nursing homes for the elderly and halls of residence for students. In the retail sector, multi-channel offerings are forecast to grow, with the most important brands concentrating their retail businesses into flagship stores in very central locations. Also, in the retail sector, the move by traditional out-of-town operators, such as Ikea and Media Markt, into downtown locations is expected to become more widespread.

In terms of rental prices for commercial premises, in Madrid, in the most sought-after areas of Salamanca, Chamberí, Sol, Chueca- Justicia and Malasaña, maximum prices amount to €90/m2/month, dropping to €55/m2/month in secondary areas and to €45/m2/month elsewhere.

Meanwhile, in Barcelona, prices are highest on the most sought-after streets, located in Ciutat Vella, Tapinería and Eixample. There, average prices range between €30/m2/month and €40/m2/month.

Original story: El Confidencial (by E.C.)

Translation/Summary: Carmel Drake

Loom to Open 10 Co-Working Offices in 2019 including a Centre in Barcelona

5 November 2018 – Eje Prime

Loom is on a mission. The company specialising in shared work centres is planning to open a dozen new co-working spaces in 2019. The assets identified, all of which are owned by Merlin, are distributed between Madrid, Barcelona and other Spanish capitals, such as Málaga, Alicante and Valencia, according to Paula Almansa, co-founder and CEO of the company, speaking to Eje Prime.

Currently, the operator is finalising the details for the launch of its third co-working office in Spain. The space, located at number 38, Calle Don Ramón de la Cruz, in the Salamanca neighbourhood of Madrid, will open its doors between May and June next year, after the renovation work on the property has been completed.

Another of Loom’s objectives in the short term is to take its co-working concept to new parts of the country, in particular, to the Catalan capital. “One of the areas that we currently have in mind is the 22@ district”, said Almansa. In this sense, Merlin’s portfolio of assets plays in the company’s favour. In fact, the Socimi has a gross leasable area (GLA) of 31,337 m2, distributed over four office buildings in that district.

One year after it acquired 31% of Loom, the group led by Ismael Clemente has decided to merge it with Twisttt, the brand that it created to debut in the co-working market in 2017. “It is a decision that we have taken together; it did not make sense for us to promote two brands separately when, at the end of the day, we were both pursuing the same objective”, said the director of Loom.

Merlin is now consolidating its position as the main landlord of the company led by the siblings Paula and Jose Almansa, who are already starting to take advantage of the large number of assets that the real estate giant owns all over the Iberian Peninsula. Málaga, Valencia and Alicante are the next destinations in which Loom plans to launch between 2019 and 2020, hand in hand with local partners, followed by Lisbon, “a city that we do not rule out launching in in the future”, said the co-founder.

For now, the company has three co-working spaces in Madrid: one at number 5 Calle Princesa, another at number 11 Calle Huertas and the final centre at number 1 Calle Vandergoten, in the Real Fábrica de Tapices. Nevertheless, the company is not limiting itself when it comes to choosing new locations and it is open to backing areas that “are not considered prime nor are home to too much competition”.

Loom’s project is a long-term venture, although they are aware that the wind will not always blow in their favour. “The co-working industry still has a long way to go, but it is also true that recently, many spaces of this kind have been opened and very high rents are being paid”, explained Almansa, who also believes that it is important to take advantage of moments of crisis to attract more users.

Original story: Eje Prime (by B. Seijo & J. Izquierdo)

Translation: Carmel Drake