Plaza Río 2: Madrid’s Newest Shopping Centre Will Open In October

3 March 2017 – Mis Locales

A new shopping centre will open in Madrid in October and it will be strategically located, next to Calle 30. The shopping centre is being built on the banks of the Manzanares River, opposite the Matadero cultural centre in Madrid, and its area of influence will span 500,000 inhabitants.

The new shopping centre will mainly serve the districts of Usera, Carabanchel, Villaverde Centro, Arganzuela and Puente de Vallecas. It will be directly accessible from the A-42 (Toledo) and the A-4 (Andalucía) motorways and will have good public transport links, including several bus and metro stops and a local train station.

Plaza Río 2 will have a surface area of 40,000 m2 and will house more than 150 stores, spread over three floors. In turn, it will have a fourth floor, the “Mirador del Río”, which will be used exclusively for restaurants. The shopping centre will offer fashion and gastronomy from the largest domestic and international groups in each sector.

The property is being developed by Sociedad General Inmobiliaria de España (LSGIE), which is whereby adding a new shopping centre to its portfolio. In total, the company now owns nine premises, including Plaza Norte 2, Gran Plaza 2, Plaza de la Moraleja and Madrid 2 La Vaguada.

Original story: Mis Locales

Translation: Carmel Drake

Neinor To Build 20-Storey Residential Tower Next To Manzanares River

23 January 2017 – El Mundo

A new and unique tower is about to appear on the Madrid skyline. The property developer Neinor Homes is going to build it and it will be located on the banks of the Manzanares River, in an area that, following the transformation resulting from the Madrid Río initiative, has become one of the most attractive and dynamic in the capital.

Since June 2015, when we found out that the property developer, whose main shareholder is the US investment fund Lone Star, had closed an operation to purchase three plots of land, including this one, located at number 33, Calle Maestro Arbós, and that it had planning permission to construct a 20-storey residential tower, everyone has been very interested in finding out more about the plans. (…).

Now, two weeks before the properties in the development go up for sale (on 8 February), El Mundo has had access to the Riverside Homes dossier, the development that Neinor plans to build in Madrid Rio and for which it requested a construction permit at the end of November (…).

It is a unique residential complex, designed by the architect Julio Touza Rodríguez, and will be distributed over two buildings. The undisputed protagonist will be the 20-storey 72m tall tower, which will be accompanied by another 3-storey block measuring 12m tall. In total, the properties will have a combined above ground surface area of 6,400 m2 and another 3,870 m2 of space underground. They will house 51 two-, three- and four-bedroom homes (with surface areas of between 107 m2 and 160 m2), many storage rooms and 102 parking spaces. (…).

The homes

The price of the homes, which will be equipped with the highest quality materials and the latest innovations, will start at €370,000 for the two bedroom homes, increasing to €445,000 for the three-bedroom properties and up to €600,000 for the four-bedrooms apartments. Those amounts, which exclude VAT (10%), include two parking spaces per property and a storeroom.

In addition to these standard flats, the plans includes three penthouses, with 50 m2 terraces, located on the 16th, 18th and 19th floors, whose prices will range between €900,000 and just over €1,000,000. Given the characteristics of the development, its location and the views that these homes are going to enjoy thanks to their dual north-south orientation, the properties look set to become some of the most unique and exclusive in the capital. (…).

The tower will have a large communal garden terrace on the 11th floor, known as the Mirador del Río. (…). At street level, it will have a large garden with a swimming pool and space for urban allotments, whilst the top three floors will house a gym and other communal spaces. (…).

A lot of demand

Even though the features of the development have not been revealed yet (….), Neinor has a list of more than 750 people who are interested in acquiring the homes at Riverside Homes. “Most of the interested parties (70%) are people from the area, but we have also received a lot of interest from other people in the capital (…)”, said Ignacio Llona, Director of the Central Territory at Neinor Homes.

Original story: El Mundo (by Luis M. De Ciria)

Translation: Carmel Drake

Sareb Sells 14,400m2 Plot Of Land In Madrid To Insur

12 December 2016 – La Opinión De Málaga

Sareb has sold a plot of land in Madrid measuring 14,400 m2 to the Andalucian real estate company Grupo Insur for the construction of a business park. The land is located on Paseo de los Melancólicos, close to the Manzanares River and inside the M-30 ring-road. With a buildable surface area of almost 27,000 m2, the plot has the capacity to house nine above ground floors, plus several underground parking floors, according to Sareb.

The operation, which has been conducted through Solvia, one of Sareb’s property managers, generates value from an asset located in an sought-after area, following the renovation of the Manzanares riverbank thanks to the Madrid Río operation.

“This asset is located next to the plots of land that form part of the Mahou-Calderón operation and is close to the Palacio de Oriente. It is well connected and is surrounded by an established urban network, which offers a wide variety of shops and services. The current sale comes in the context of the reactivation of the office segment, driven by a notable decrease in the availability of such assets, in particular in the primary markets of Madrid and Barcelona”, said the company. During the first six months of 2016, Sareb sold 625 plots of land across Spain, from both its own portfolio as well as from the balance sheets of its debtors. Most of these operations were closed in: Community of Valencia, Cataluña, Murcia and Andalucía.

Overall, during the first six months of the year, Sareb sold 5,590 properties (residential assets, land and tertiary properties) and recorded revenues of almost €1,400 million. 52.4% of those revenues were generated from the management of its loans and the remainder from the sale of both properties (26%) and loans (almost 20%).

Original story: La Opinión De Málaga

Translation: Carmel Drake