Bonavista Developments to Invest €40M in the Construction of a 11,500 m2 Office Building in Barcelona’s 22@ District

13 January 2020 – El Periódico

Bonavista Developments, through Mitsubishi Estate London and Europa Capital, has completed the purchase of a plot of land in the heart of the 22@ district of Barcelona, on Calle Cristóbal de Moura, for an undisclosed sum.

The two companies are planning to invest €40 million in the construction of a new office building on the site. The new offices are expected to span a surface area of 11,500 m2 and construction is scheduled to begin later this year.

Original story: El Periódico (by Max Jiménez Botías)

Translation/Summary: Carmel Drake

Operación Calderón: Mahou Puts First Plot Up for Sale

7 May 2019 – Eje Prime

Mahou has put the first plot of land up for sale on the site of Operación Calderón. The brewery has engaged Colliers to handle the sales process, which it hopes will close this year and generate proceeds of €60 million

Potential candidates for the purchase include the cooperative Ibosa, amongst others, which plans to build around 400 homes on two of the plots.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

Habitat Acquires a Plot in Valencia for the Construction of 96 Homes

29 March 2019 – Levante EMV

The property developer Habitat has purchased a plot of land on Calle Bomber Ramón Duart in the Quatre Carreres neighbourhood of Valencia, for the construction a 96-home residential property. The company, which is backed by the US fund Bain Capital, is already building 600 homes in the Community of Valencia and plans to invest €500 million in land purchases across Spain between now and 2021.

In its latest operation, the real estate company has acquired a plot measuring more than 3,100 m2 with a buildability of 14,000 m2, which will involve a total investment, including the construction work, of €30 million. The operation forms part of the strategic and business plan that the company, chaired by Juan María Nin and led by José Carlos Saz, is carrying out.

Original story: Levante EMV (by Ramón Ferrando)

Translation/Summary: Carmel Drake

General Càrnia Invests €20M to Build a 11,000m2 Warehouse in Barcelona

21 March 2019 – Eje Prime

The meat retailer General Càrnia is investing €20 million in the construction of a building measuring 11,000 m2 on a plot that occupies the site of the former Makro store. The warehouse will be ready by the summer of 2020.

Mercabarna awarded the 20,500 m2 plot to General Càrnia for €4.7 million in 2017. The company has the right to operate the site for 20 years in exchange for the payment of an annual rental.

Original story: Eje Prime 

Translation: Carmel Drake

VGP Buys a 40,000 m2 Logistics Plot in Zaragoza

7 March 2019 – El Vigía

The European supplier of logistics and semi-industrial buildings VGP NV has purchased 40,000 m2 of buildable land in Plaza, in an operation advised by CBRE.

As a result, the logistics specialist now owns 120,000 m2 of space on three adjoining plots in Zaragoza, as its expansion continues following its acquisition of 80,000 m2 in Fuenlabrada (Madrid) and 60,000 m2 in Valencia in 2018.

Original story: El Vigía

Translation/Summary: Carmel Drake

Kronos Forces the Auction of Salvador Vila’s Star Plot in Valencia Worth €67M

20 February 2019 – Expansión

The court has approved the execution requested by the fund (Kronos), which purchased the debt associated with the plots on Avenida de las Cortes Valencianas, opposite the former Hilton hotel, from Sareb and is claiming €47 million from the Valencian property developer (Salvador Vila).

One of the last undeveloped plots on Avenida de las Cortes Valencianas has just gone to judicial auction. It is the plot of land located opposite the Hotel Meliá Valencia (formerly the Hilton), where the plan was to build a 114-metre tall tower containing homes. It was set to be a genuine icon but was never constructed because of the real estate crisis.

The land still belongs to one of the large Valencian property developers, Salvador Vila Soria, who also constructed several of the large towers located on the same avenue. Nevertheless, a change of hands appears imminent, given that the Court of First Instance number 27 of Valencia has approved the mortgage auction of the property at the request of Vistanova Developments, a company linked to the manager Kronos, which through Kronos Homes is one of the new large operators in the residential market.

Kronos acquired the debt that Salvador Vila held with Sareb and which included the mortgage secured by this land as collateral. In fact, the Managing Director of Kronos, Saïd Hejal, explained to Expansión in May his firm’s intention of starting construction on a 34-storey residential tower this year, which was going to be the tallest in Valencia, after taking over the debt from Sareb.

The legal auction officially started on 8 February and the period to submit bids ends at the beginning of March. According to the court, the debt claimed from Salvador Vila in the mortgage foreclosure lawsuit amounts to €47.62 million, of which €40 million proceeds from the principal and the rest from interest.

The value of the property for the auction is set at €67 million. The plot spans 6,926 m2 and has a buildability of 20,900 m2 (residential use) and another 3,100 m2 for tertiary use (…).

Original story: Expansión (by A.C.A.)

Translation: Carmel Drake

A 17,000 m2 Residential Plot Goes Up For Sale in Central Santander

12 February 2019 – Eje Prime

An operation is on the horizon in the heart of Santander. A plot of land spanning 17,000 m2, with planning permission to build homes up to three storeys high, has gone up for auction with a starting price of €1.3 million. The land is owned by a local family, which inherited several plots.

The objective of the sale is to divide the “proindiviso”, given that the land is currently owned by six members of the family and a third party. Nevertheless, an agreement between the owners allows the abbreviated procedure to apply to the auction, in other words, there is no need to set up a compensation board.

The plot, spanning 16,921 m2 and with a buildable surface area of 4,700 m2, is located in the urban centre of Santander, in a growth area next to the El Alisal shopping centre. The urbanisation has almost been finished and there are facilities and transport connections in the vicinity.

Following its publication on the auction website of the Official Gazette of the Mercantile Registry (BOE), interested parties have a period of twenty days to submit offers, after which a period will open for the owners to present the option to improve the bid to third parties.

The land has planning permission to build three-storey blocks with garages and storerooms, as well as a communal area with a garden and swimming pool. The land is valued at €2.15 million, according to an independent expert. That is the de facto starting price, although a discount of 60% has been established thereon. Hence, the minimum price of €1.29 million.

The same family owns another plot very nearby, spanning 9,157 m2, with a buildable surface area of 3,394 m2, which is not adjacent but which is located in the same urbanisation, according to explanations provided by sources speaking to Eje Prime.

Original story: Eje Prime (by I.P.G.)

Translation: Carmel Drake

Valenciaport Sells a Plot in Parc Sagunt to Inditex for €31M

4 February 2018 – Eje Prime

Valenciaport has made the sale of a plot of land in Parc Sagunt to Inditex official. The President of the Port Authority of Valencia (APV), Aurelio Martínez, signed the sale of this plot by ‘Valencia Plataforma Intermodal y Logística’ to Tempe, a footwear company that forms part of the Inditex group, before a notary on Monday. The plot measures almost 280,000 m2 and its price amounted to €31 million.

The APV is planning to allocate the resources obtained from the sale of the plot to promoting, activating and streamlining Parc Sagunt II, purchasing new areas to attract business investment of port interest, according to reports from Europa Press.

Tempe was the only company that submitted an offer in the tender process that was convened. As part of the sale’s terms, the company agrees not to sell or divest the plot for at least three years. Moreover, the group commits to undertake business activities within a maximum period of four years.

In January, Tempe emerged as the buyer of this asset after it was the only company to submit a bid in the tender. The company already has central offices and two logistics centres in the Elche Business Park in Alicante.

Original story: Eje Prime 

Translation: Carmel Drake

Testa’s Former CEO Buys a Plot of Land in Madrid to Build 25 Homes

23 January 2019 – Eje Prime

Testa’s former CEO is continuing to shape his new real estate project. Nidom, the property developer led by Daniel Loureda, has purchased a plot of land at number 312 Calle Embajadores in Madrid, according to Expansión. The objective is to construct a 6-story building containing 25 homes, whereby resuming the plans set out by the previous owner.

Until now, the plot was in the hands of the company Caoba Directorship, and it has been sold for above the asking price, which was set at €7.5 million. The operation has been brokered by Knight Frank.

The plot has a surface area of 1,051 m2 and is located in the Legazpi neighbourhood of the capital, in a very sought-after area, where prices are on the rise due to the shortage of land and the location. In fact, it is one of the last buildable plots inside the M-30.

Nidom is thereby continuing to increase its portfolio, after launching several developments, including at number 76 Príncipe de Vergara, 7 Duque de Pastrana and 98 Calle Ferraz.

The property developer is led by Daniel Loureda, former CEO of Vallehermoso and Testa Inmuebles.

Original story: Eje Prime 

Translation: Carmel Drake

Temprano Capital Partners Acquires Plot in Sevilla for Student Halls

5 December 2018 – Press Release

During November 2018, Temprano Capital Partners, in a joint venture with CPA®:18 – Global and Helena Rivero, acquired a prime, city centre site in Sevilla to undertake the development of a premium student residence, to form part of the TSL programme in Iberia.

TSL is currently developing 5 projects in Spain and 3 in Portugal, together with the residence in Marques de Pombal, Lisbon, which was inaugurated in January this year. The TSL programme now amounts to 3,500 beds in Iberia.

The City of Sevilla is renowned, internationally, for its unique university atmosphere, with over 80,000 full-time students, approximately 4% of whom are from outside of Spain, a percentage that is increasing annually, given the popularity of interchange programmes, such as Erasmus and European funding initiatives.

Sevilla houses multiple further education facilities, with faculties spread throughout the city centre, including the University of Sevilla, University Pablo Olavide, the International University of Andalucía UNIA Cartuja, University Loyola Andalucía and CEU San Pablo Andalucía Bormujos, in addition to multiple language academies and institutes, such as the Spanish American Institute. Sevilla has a prestigious international status, offering a wide range of courses, and qualifications in all fields of study.

Sevilla also offers students a unique, historic environment with rich culture and multiple leisure and sports options. The site acquired is located on Calle Genaro Parlade to the south of the city centre in the “El Porvenir” neighbourhood. This area of the city is exceptionally well located for students with respect to the city centre and main university campuses – by foot, by bicycle or by public transport. The site was previously used by the Antares Sports and Social Club, which recently relocated to modern facilities in central Seville. The proposed project will result in a significant urban regeneration for both the local neighborhood and the City of Sevilla.

The project, which is currently in the design phase, will provide 505 premium studios in a building measuring 15,200 sqm. The studios will be delivered with high-quality designs and finishes, with fully fitted in-room kitchens; individual, ensuite bathrooms; high speed WI-FI connections and televisions. Furthermore, the Project will offer multiple services and on-site amenities such as a fully equipped gymnasium, swimming pool, lounge, party rooms, cinema, laundry, library and study rooms. Extensive exterior areas for the students along with 24/7 concierge service are also envisaged and all included in the rent (…).

Temprano Capital Partners (Temprano) is a private European real estate investor and developer created in 2013. It is led by Neil Jones and James Preston and its current tactical focus is the Iberian market (Spain & Portugal) (…).

Original story: Press Release

Edited by: Carmel Drake