The Port of Valencia Extends Deadline to Sell its Parcel of Parc Sagunt for €31 Million

17 August 2018

The Port Authority of Valencia has decided to extend the auction for the last large plot of industrial land available in the business centre, with 279,830 square meters, until November.

The sale of the last large plot of land in the Parc Sagunt in Valencia has been delayed. The Port Authority of Valencia has decided to extend the closing date of the auction for the land it acquired ten years ago in the Valencian business park and which it wants to sell now for at least €31 million euros.

The plot, with an area of ​​279,830 square meters, is the largest left in the complex and was scheduled to change hands on the 28th of this month, at the end of the deadline set by the subsidiary VPI, as reported by Expansión.

However, the Port of Valencia has delayed the tender until the autumn, when it will be necessary to see if the bids of the investors who had taken an interest in the property remain firm. At that point, VPI must choose between the projects that have been submitted to the auction, looking for a sale that would be in “interest of the Valencian Community.”

One of the companies that are likely to take the prize is Mercadona. The Valencian supermarket chain has already bought more than 600,000 square meters in Parc Sagunt with the purpose of developing a new macro-logistics platform in the centre. A third of the entire industrial area is already owned by the group led by Juan Roig.

The positioning of Mercadona in Sagunto has attracted other companies in the sector, as evidenced by Vostok and Inlet Seafish’s purchase of two parcels in the estate, paying 1.43 million euros and 620,000 euros, respectively.

Original Story: EjePrime

Translation: Richard Turner