Tag: Desigual

Bankia Puts Branch in Barcelona’s Plaza Cataluña Up For Sale for €28M

5 July 2018 – Idealista News

Bankia is replicating in Barcelona what it has already done in Madrid with c/Alcalá 1. The bank has put up for sale the commercial premises in the building that it owns at number 9 Plaza Cataluña, in the centre of Barcelona, for €28 million.

The entity opened the bidding last week and will start to receive offers for the premises, which have a surface area of 1,000 m2, from Friday 6 July onwards. The asset, located between the Apple and Desigual flagship stores, has already attracted several suitors, including retail operators and international investment funds, according to Idealista.

The premises, which Bankia debating whether to put up for sale or lease, was the object of desire of the Japanese fashion giant Uniqlo for its arrival plan in Barcelona. In the end, that firm opened its flagship store close to Plaza Cataluña, at the intersection of Gran Vía and Paseo de Gracia.

This operation follows the deal that Bankia already initiated in March involving c/Alcalá 1 in Madrid, as revealed by Eje Prime. For that central property in the Spanish capital, two real estate funds, Renta Corporación and Arcano, are still the favourites to acquire the asset, which, nevertheless, has not yet been sold for its minimum asking price of €20 million.

Original story: Idealista News

Translation: Carmel Drake

Cerberus Puts 2 of Bankia’s Prime Branches Up For Sale

12 March 2018 – El Confidencial

Cerberus wants to take advantage of the appetite that exists for retail premises on Spain’s main high streets at the moment and to this end, has opened a process to sell two of Bankia’s star branches, located on Plaza de Catalunya in Barcelona and at number 1 Calle Alcalá in Madrid, according to sources familiar with proceedings.

The operation has been instrumented through Haya Real Estate, the real estate servicer of Cerberus, which is in charge of managing the assets thanks to the contract signed with the entity, and has been organised as a closed process, rather than through the website, like it does with other assets when it puts them on the market.

In both cases, the bank chaired by José Ignacio Goirrigolzarri is planning to vacate the premises, so that the buyers can let them to a new tenant and whereby obtain more attractive offers.

The establishment located on Alcalá 1, a historical building dating back to the 19th century, has a surface area of 900 m2 spread over the ground floor and basement. The process, which was launched last month, has received interest from several parties looking to acquire the empty space.

On the plus side, it is located right next to the entrance of the well-known Puerta del Sol, and it is very close to Calle Preciados, the most expensive shopping street in Madrid, with an average rent of €3,180/m2, according to Cushman & Wakefield (C&W). On the downside, its shop window overlooking Calle Alcalá is very reduced.

Meanwhile, in Plaza de Cataluna, the 1,000 m2 branch that Bankia owns is homes to its headquarters in the Catalan capital. Haya already identified it at the end of last year as a serious candidate for sale, a decision that it took in the end boosted by the record retail investment figures.

According to figures from Savills-Aguirre Newman, investor interest in the commercial segment in 2017 allowed it to break records, reaching €3.5 billion, levels that the real estate consultancy expects will be maintained this year thanks to the strong outlook that still exists for tourism, amongst other factors.

Plaza de Catalunya is also one of the most commercial areas in Spain, with rents exceeding €1,200/m2, and with the added bonus that it is a genuine magnet for large fashion firms.

In fact, Uniqlo was on the verge of acquiring the 3,000 m2 that Fundación Montemadrid used to own next door to Bankia’s branch, a property that ended up being sold to Desigual to house its new flagship store. El Corte Inglés, Apple, Zara and Fnac are just some of the distinguished neighbours on this sought-after square.

Original story: El Confidencial (by Ruth Ugalde)

Translation: Carmel Drake

Solvia Invests €8M In Two Logistics Projects In Cataluña

4 October 2017 – Eje Prime

Solvia is strengthening its position in the logistics sector. The real estate company and property developer, which is owned by Banco Sabadell, is going to construct two new logistics platforms in Cataluña. These properties, in which Solvia will invest €8 million, will house the headquarters of Nexans and Mediapost and will be located in Polinyà (Vallès Occidental).

Solvia will finance the turn-key operations and will ultimately own the two assets, which are going to be built on land already owned by the bank, according to Expansión. Nexans and Mediapost, specialising in cable solutions and promotional marketing, respectively, will sign long-term lease contracts with Solvia.

Whilst Nexans’ warehouse will have a surface area of 7,200 m2 and will be ready by the first quarter of 2018, Mediapost’s space will have a surface area of 13,900 m2 and will be handed over during the first quarter of 2019.

In addition to developing its logistics business, Solvia is also boosting its commercial footprint across Spain. Its strategic plan includes opening 180 franchised branches and 36 own offices all over the country between now and 2019.

In addition, as Eje Prime revealed, Solvia plans to open branches in prime locations. The company opened a flagship store in the Spanish capital, on Calle Alcalá (in the heart of the Salamanca neighbourhood) during the first half of this year and has just opened an iconic office in the heart of Barcelona, at number 16, Ronda Universidad, a stone’s throw from fashion operators such as Zara and Desigual, as well as Apple’s flagship store in the Catalan capital.

The most recent business line to be developed by Solvia is that of real estate brokerage, with companies and investors. The company is strengthening its advisory and brokerage divisions, whereby positioning itself to compete with the main consultancy firms that operate in Spain, such as CBRE, Aguirre Newman, Cushman&Wakefield and Knight Frank, for example.

Original story: Eje Prime

Translation: Carmel Drake

Solvia Plans To Have 55 Estate Agent Branches By YE

7 September 2017 – Eje Prime

Solvia is fuelling its high street estate agent business. The servicer arm of Banco Sabadell plans to have more than fifty branches in Spain before the end of the year. The company already has 19 branches of its own spread all over the country and it plans to open around thirty franchises before the end of the year.

According to Cinco Días, Solvia’s strategic plan includes opening 180 franchises and 36 own offices all over Spain between now and 2019. The network of Solvia Stores sold 1,850 homes during the first seven months of the year, worth €233 million.

Moreover, as EjePrime revealed, Solvia plans to open offices in prime locations. The company opened a flagship store in the Spanish capital, on Calle Alcalá (in the heart of the Salamanca neighbourhood) during the first half of the year and has just opened an iconic establishment in the heart of Barcelona, at number 16 on Ronda Universidad, just a stone’s throw from fashion retailers such as Zara and Desigual, and the Apple flagship store in the Catalan capital.

In this way, Solvia is completing its strategy with a physical presence on the high street. For the time being, it has stores open in cities such as Sevilla, Madrid, Alicante, Oviedo, San Sebastián, Valencia, Marbella, Torrevieja and Badalona, amongst others.

The last line of business to be developed by Solvia is that of real estate broker on behalf of companies and investors. The company is boosting its advisory and broker team, in a move that will allow it to compete with the major consultancy firms in Spain, such as CBRE, Aguirre Newman, Cushman & Wakefield and Knight Frank, for example.

Original story: Eje Prime

Translation: Carmel Drake

Hines Buys Five Guys’s New Outlet On Gran Vía 44 For €40M

22 January 2016 – Expansión

The US real estate company Hines has acquired the retail premises at number 44, Gran Vía in Madrid for €40 million. The property has just been leased to the US hamburger chain Five Guys, which has signed a long-term contract to open its first restaurant in Spain there.

The premises have a surface area of around 900 m2, spread over three floors, and Five Guys expects to open its first Spanish outlet in the summer (2016). The US chain has more than 1,300 fast food outlets all over the world.

Hines has purchased the asset from the Spanish real estate company Grupo Baraka and has executed the transaction through its fund Hines Pan European Core Fund, which recently made its debut in Spain with the acquisition of another retail premises for around €38 million. That property is located in the centre of Barcelona and is leased to Desigual.

Original story: Expansión (by Marisa Anglés)

Translation: Carmel Drake