Rockspring Buys McCann’s HQ in the 22@ District of Barcelona

25 January 2019 – Expansión

The owner of the Mercadona logistics platform in Sant Esteve Sesrovires is now investing in the office segment in Barcelona.

International investors are continuing to back the office segment in Barcelona to benefit from the boom in demand and the growth in rents that are being recorded in the sector. The latest player to invest is the British fund Rockspring – which has formed part of Patrizia Immobilien since last year – which has purchased an office building located in the 22@ district, the area that is registering the highest demand. The amount of the operation could reach €12 million, according to sources in the sector.

The property, located at number 123 Calle Ciudad de Granada, on the corner with Calle Tánger, was the former headquarters of Laboratorios Kin until that company moved to other offices on La Diagonal. The manufacturer of dental hygiene products, which used to own the property, carried out a comprehensive renovation project, which involved its change of use from industrial to offices, and it put it on the rental market. Savills Aguirre Newman was engaged for its marketing and was also responsible for searching for an investor (…).

In May last year, the property was leased in its entirety to the multi-national advertising company McCann, which left Edificio Planeta and opened its corporate headquarters in 22@, where it occupies a surface area of 3,000 m2.

The useful surface area of the offices amounts to 2,740 m2, spread over four floors measuring 650 m2 each and an attic spanning 140 m2. The rental price agreed with McCann amounts to €16.50/month (…).

Original story: Expansión (by Marisa Anglés)

Translation: Carmel Drake

Banco Sabadell Puts Edificio Planeta Up for Sale for €200m

11 June 2018 – Eje Prime

Banco Sabadell does not want Edificio Planeta on its balance sheet. The Spanish bank has placed the asset located in the centre of Barcelona up for sale for a minimum asking price of €200 million. The entity wants to divest the property before the summer.

At a time of immense interest in the office market from international funds, and given the area in which the property is located, a financial centre with very little available stock, Sabadell is not expected to have much trouble finding investors interested in its asset.

The building, located at 662-664 Avenida Diagonal, has an overground surface area of 26,500 m2 spread over nine floors. Moreover, the tenants have access to 350 parking spaces, according to El Confidencial.

Sabadell took over the ownership of the building in May after the Lara family, owner of the editorial group of the same name, handed it over to the financial institution through its family office, Inversiones Hemisferio, which liquidated a loan from the bank through this operation with which it purchased shares in the bank.

Constructed in 1979, at a cost of €100 million for Banco Industrial de Catalunya, the modernist building, designed by the architects Tous and Fargas, used to be owned by Planeta until 2001.

Prior to its transfer to Sabadell, on 31 May, the property lost the multinational publicity company McCann as its tenant; that firm moved to a renovated building in the most sought-after business centre of the Catalan capital, the 22@ district, as revealed by Eje Prime.

Original story: Eje Prime 

Translation: Carmel Drake

Banco Sabadell Finalises Purchase of the Planeta Building in Barcelona

24 May 2018 – Eje Prime

Firstly, some of the tenants vacated Edificio Planeta and now the property itself looks set to change hands. The iconic asset belonging to the Lara family, owner of the publishing group that gives it its name, located in the centre of Barcelona, is very close to ending up in the hands of Banco Sabadell.

The Spanish bank is finalising the purchase of the building, taking advantage of the debt restructuring process that the Hemisferio group is currently undertaking. Moreover, in this regard, Sabadell may have required the resignation of José Lara García as director, according to La Vanguardia.

Owned by Planeta since 2001, the property will lose the multinational publicity group McCann as a tenant on 31 May; that firm is moving to a newly renovated building in the most sought-after business centre of the Catalan capital, 22@, as reported by Eje Prime.

Constructed in 1979, Edificio Planeta, which cost the publishing group €100 million, is the fruit of work by the architects Tous and Fargas, who received the commission from Banco Industrial de Catalunya. Its surface area of 26,000 m2, spread over three octagonal towers, will form part of Sabadell’s portfolio. As such, the entity will acquire an asset situated very close to the towers of its competitor, La Caixa.

Original story: Eje Prime 

Translation: Carmel Drake