6 October 2018 – Real Estate Press
Savills Investment Management, the international real estate investment manager, has brokered the sale of Nestle’s headquarters in Barcelona by the manager Meridia Capital. The buyer in the operation is the Korean manager IGIS Asset Management. The value of the transaction has not been revealed, but sources close to the operation claim that it amounts to €87 million.
The complex, which includes 5 office buildings with a total surface area of almost 50,000 m2 and a GLA of 27,607 m2, is located in Esplugues de Llobregat, close to Avenida Diagonal in Barcelona. It is a prime location, where other large multinational companies also have their offices including Bayer, Cobega and Codorniu. The complex, which has been home to Nestle’s headquarters in Spain since the 1970s, has almost 600 parking spaces. Building 1 has a LEED 1 Platinum certificate and Building 2 and the common areas have a LEED Gold certificate.
Fernando Ramírez de Haro, Director General of Savills Investment Management for Spain and Portugal, said: “Our client has managed to access a complex with unique characteristics. At Savills IM, we are delighted to have been able to accompany them in this operation, which will undoubtedly mark a milestone in the real estate market during the second half of this year”.
In reference to Savills IM’s objectives in Spain, Ramírez de Haro added, “after closing this investment, which follows others recently completed in Spain and Portugal, we are close to recording total acquisitions of €500 million in 2018”.
Ashurst, Cushman & Wakefield, KPMG and Colliers advised the purchaser whilst the law firm Uría Menéndez and Valliance Real Estate Advisors acted as advisors to the vendor.
Original story: Real Estate Press
Translation: Carmel Drake