Ferrovial Looks to Sell 27,200-M2 Plot of Land in Valdebebas for €54.5 Million

21 October 2019 – Ferrovial is looking to sell off its land in Valdebebas, a newly fashionable neighbourhood bordering La Moraleja, Operation Chamartín and the future Campus of Justice in northern Madrid. The Spanish multinational owns 27,200 square meters of land, 22,700-m2 of which are slated for residential construction.  The other 4,500 m2 is for commercial use.

Knight Frank Spain is mediating the sale, and there are currently three potential bidders, all offering at least 2,000 euros per square meter. Developers would have enough space to build 240 new homes on the site and are expected to use the build to rent format, which tends to mitigate risk. The sale of the land, which is considered highly attractive, should be finalised before the end of the year.

Original Story: La Información – Ana Sánchez Juárez

Adaptation/Translation: Richard D. K. Turner

Santander Looks to Sell the Luxurious El Santo Estate in Madrid

16 October 2019 – The Santander Group is preparing to sell the well-known, 1,000-hectare El Santo estate, for potentially more than 50 million euros. The asset is in Aldea del Fresno, Madrid, and was owned until recently by the president of Sacyr, Manuel Manrique. Through its subsidiary, Altamira Real Estate, the banking group commissioned topographic studies of the property in preparation for the likely sale.

Mr Manrique originally acquired the estate in 2007 for approximately 52 million euros. The property extends through the municipalities of Aldea del Fresno, Navas del Rey and Chapinería. The estate is known for its hunting grounds and arable land, particularly for the cultivation of olive trees and cereals.

Original Story: Vozpópuli – Alberto Sierra

Adaptation/Translation: Richard D. K. Turner