OneCoWork to Open a New Centre on Via Laietana in 2019

29 October 2018 – Eje Prime

OneCoWork is strengthening its commitment to Barcelona and is broadening its horizons. The company, founded in 2016 by the Israeli businessman Uri Nachoom, is going to open its third co-working centre in the Catalan capital next spring, according to reports from the company speaking to Eje Prime.

The new centre is going to be located on Via Laietana. With this operation, OneCoWork will have three shared working spaces in Barcelona. It also has a presence in Marina Port Vell and Plaza Cataluña. The company expects to end 2019 with a community of 1,100 members.

Similarly, another of the group’s objectives involves opening a centre in Madrid at the end of next year. Although the exact location of that property has not been decided yet, the company is already considering several possibilities in prime areas of the Spanish capital. According to explanations from sources at the company “everything depends on the supply in the market”.

Sevilla, Málaga and Valencia are also in the spotlight of OneCoWork, which is already studying which cities to open more offices in. Nevertheless, first, the company wants to gain a presence in the main European capitals: Paris, London, Amsterdam and Berlin are some of its objectives in the short term.

The company wants to close 2020 with twelve centres and a community of 10,000 members located all over Europe. For the time being, all of its funds are its own, but “as we grow, we will have to rely on external investments or agreements with building owners or third parties”, say sources at the company.

Going for gold in Barcelona 

OneCoWork opened its first centre in Marina Port Vell in November 2016. The company started out in a building measuring just over 1,000 m2. Around 200 professionals work there now and it reached an occupancy rate of 100% in just three months.

“We really value the city of Barcelona. It is the perfect place for attracting talent and for businesses to evolve”, explain sources at the company. Proof of that commitment to the city came with the opening of its second centre in Plaza Cataluña, in the heart of the Catalan capital, at the beginning of September. That space, distributed over six floors, has capacity for 400 members and is home to companies such as N26. That firm occupies an entire floor in OneCoWork’s newest co-working office.

Moreover, OneCoWork is also considering entering the 22@ district of Barcelona and other areas, “an ambition that will certainly materialise in 2020”.

In parallel to its own projects, the Spanish co-working has also started to invest in startups and to this end, holds a stake in two emerging companies.

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

Translation: Carmel Drake

Zurich Buys an Office Building in Plaza Cataluña from Sum Capital Spain

25 October 2018 – Eje Prime

The Zurich Group has assured itself of a space in the heart of Barcelona. The Swiss group has purchased an office building in Plaza Cataluña from Sum Capital Spain, the property developer behind OneCowork, a chain of co-working offices that will remain as the tenant of the property, according to explanations provided to Eje Prime by sources close to the operation, whose consideration has not been revealed.

The asset, located at number 9 Calle Estruc, between Plaza Cataluña and Portal de l’Àngel, has a surface area of 1,648 m2. The property is distributed over five storeys with a terrace (and an average surface area of 250 m2 per floor). It will be completely occupied by the coworking chain created by Uri Nachoom, the sole administrator of Sum Capital Spain.

Nachoom is a familiar face in the Catalan capital’s real estate sector as the former co-owner of the Salamanca Group holding company, the firm that relaunched the Marina Port Vell marina and which guided the growth of OneCowork, a company that is going to invest €150 million in the opening of forty centres all over Europe by 2023.

Now, the Israeli businessman has decided to sell this property under the sale&leaseback method, taking advantage of the interest in the Spanish office market from large funds and insurance firms. The operation has been signed through REX Spain, one of the Zurich Group’s subsidiary companies, and has been advised by the real estate consultancy JLL (…).

It’s not all about the 22@ district in Barcelona 

The office market in Barcelona is not all about the 22@ district. Although the city’s technological hub accounts for most of the current investments, Zurich’s purchase of the OneCowork building highlights the interest that the city centre is continuing to generate. Other large players such as Hines, Emesa and Pontegadea have benefitted in recent months from the interest of some companies and startups to work in the heart of Barcelona.

At the beginning of October, WeWork leased two spaces in the centre of the Catalan capital (…).

Also, since May, the real estate company owned by Amancio Ortega, Pontegadea, has been the landlord of Lidl in its building in Plaza Cataluña, where the Zara flagship store is also located. In total, the German supermarket chain leases 3,155 m2, distributed over four storeys.

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

Translation: Carmel Drake

Primark to Open a Megastore in Barcelona’s Plaza Cataluña

12 July 2018 – Idealista

Primark is finally entering the centre of Barcelona. The low-cost fashion company is going to open a flagship store at number 23 Plaza Cataluña, in a building owned by the fund manager IBA Capital, according to confirmation from real estate sources speaking to Idealista News. Until now, the property has been occupied by the El Corte Inglés department store group, but now the Irish chain is going to take over the 7,393 m2 property.

IBA Capital acquired the building in 2013 for €100 million and, over the last six months, since it has been on the market, the asset has attracted attention from the main fashion groups in Europe, including H&M, Primark, Inditex and the Japanese firm Uniqlo.

The building has a gross leasable area of 7,393 m2 and is located at the junction of Plaza Cataluña and Las Ramblas, one of the new commercial thoroughfares in Barcelona following the opening of establishments by the Galician giant Inditex there, as well as by operators such as Mango, Apple and Urban Outfitters.

The building was leased in its entirety to El Corte Inglés until a few months ago, which operated it through a multi-brand concept with firms such as Gap, Tommy Hilfiger, Guess, Diesel, Maje, Sandro, Stefanel and Desigual.

The property was renovated in 1998 and used to house the former headquarters of Banco Central and one of the only stores that the British firm Marks&Spencer used to have in Spain. Following the purchase by IBA Capital, El Corte Inglés and the fund signed a sale and leaseback contract, which expired in 2018.

IBA Capital in the Spanish market

Founded in 2013, IBA is led by Thierry Julienne and Jesús Valderrama, the founders of the investment vehicle. The fund manager has the capacity to manage all classes of real estate assets and its portfolio is currently worth €1 billion.

The portfolio comprises more than a dozen assets situated in first-rate locations in Madrid and Barcelona. Its properties include number 18 Gran Vía, number 9 Preciados and the ABC Serrano shopping centre, which have been acquired for subsequent renovation.

The other assets are office buildings including the property at number 96 Calle Santiago de Compostela, in Madrid and the Tripark Business Park, in las Rozas. Moreover, the fund owns the Vodafone Building, located at number 115 Avenida de América, and the Manoteras Leisure Park, also in the Spanish capital.

Original story: Idealista (by Custodio Pareja)

Translation: Carmel Drake

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

Invesco Buys A Building In Barcelona From Deka

24 November 2016 – Expansión

The German real estate manager Deka has earned around €10 million in just three and a half years from the sale of a 4,000 m2 building, containing office space and commercial premises, in the centre of Barcelona. The property, which is located on Ronda de Sant Pere, 5, next to the Corte Inglés in Plaza Cataluña, was acquired by the fund WestInvest InterSelect – managed by Deka – in May 2013 for around €19 million. Now, the US manager Invesco Real Estate has paid around €29 million for the building in a transaction brokered by Savills. Yesterday, the consultancy firm highlighted the interest that the Catalan capital is receiving from overseas investors and the “shortage of available products”.

Original story: Expansión (by J.O.)

Translation: Carmel Drake