Tag: Quironsalud

Madrid’s Partido Popular Opens Door to Private Hospital in Torrejón de Ardoz

16 August 2019

A second hospital will be built in Torrejón de Ardoz, a 130,000-inhabitant satellite city of Madrid, after the city’s government, currently dominated by the Partido Popular (PP), approved a proposal by Quirónsalud. The council has offered to rent a 16,000-square-meter plot of land to the firm for 625,000 euros per year, for a sixty year period.

The new private hospital will be placed across a roundabout from an existing public hospital, which is managed by a rival firm, Ribera Salud. Quirónsalud had initially planned on building the centre on a private plot of land in Alcalá de Henares.

The regional and municipal governments, both controlled by the PP, had to implement ad hoc changes in zoning regulations that, in the end, convinced the company to modify its project and move it to Torrejón de Ardoz.

Original Story: El Diário – Sofía Pérez Mendoza

Adaptation/Translation: Richard D. K. Turner

Project Caleido will Revolutionise the Commercial Offer on Paseo de la Castellana

9 May 2019 – Expansión

From the end of 2020 onwards, Project Caleido, which is being promoted by the property developer Inmobiliaria Espacio and the Philippine company Megaworld Corporation, is going to launch 14,000 m2 of commercial space at the northern end of Paseo de la Castellana in Madrid, whereby providing a much-needed leisure area for workers in the Cuatro Torres business district.

The commercial space will seek to imitate a typical high street with between 70 and 80 premises distributed over two floors. The premises will house restaurants (35%), services (11%) and retail, technology, accessories and cosmetics brands.

Caleido’s offering will also include a boutique cinema, a supermarket, a gym, an exhibition and events centre and an eSports space. The developers have already marketed 30% of the space and expect to fill another 20%  of the premises before the summer.

According to a study performed by GfK, Caleido will receive more than 3 million visitors per year and will serve not only the employees that already work in the area, but also the more than 6,000 students who will be studying at IE’s new high-rise campus in the fifth tower as well as employees and patients of the Quirónsalud Group’s new advanced medicine centre.

Original story: Expansión (by Rebeca Arroyo)

Translation/Summary: Carmel Drake

Major Real Estate Projects in Madrid to Attract €10.5 Billion in Investments

21 August 2018

Some of the outsized projects for the coming years include the northern Madrid construction, the expansion of the Barajas airport and the Canalejas project.

Madrid will soon be the target of multi-billion euro investments in major real estate and urban development projects, upgrading the Spanish capital’s image in the coming years. The investments will lead to the construction of housing, skyscrapers, hotels, shopping centres, university campuses while also renovating some football stadiums and demolishing others.

Madrid Nuevo Norte, under development by DCN; Aena’s real estate project for Barajas; the Canalejas and Caleido project, along with the renovation of the Bernabeú stadium and the Mahou-Calderón development will involve total investments of €10.5 billion.

Four new skyscrapers

Madrid Nuevo Norte is the most ambitious project and the one that has been the longest in the making. Formerly known as Operation Chamartín, the project involves the construction of 365 new buildings in Madrid, including 10,500 flats and three skyscrapers in the vicinity of the Chamartín train station, in the north of the capital.

Construction of the project, which had been paralysed for a quarter of a century, is expected to begin in 2019. If the developer manages to keep to the announced deadlines, reparcelling and development will start by the end of next year or early 2020, and the first homes will be ready by 2021 or 2022.

Considering the sheer magnitude of the project, which will have a buildable area of 2.66 million square meters, construction is expected to last for more than two decades. Madrid Nuevo Norte will require €6 billion in investments and should create roughly 120,000 jobs during the construction phase and 94,000 posts after its completion.

A building known as the fifth tower will be erected in the area surrounding Madrid Nuevo Norte. The Caleido project will involve investments of €300 million and should be ready by the end of next year. Inmobiliaria Espacio, of the Villar Mir Group, was awarded the development and operationalisation of the project on public land in 2014 and is leading the development together with Megaworld, a conglomerate held by the Filipino billionaire Andrew Tan.

The project will include a 36-floor, 165-meter tower, which will house IE’s new, vertical campus, and a second building, 280 meters long and 60 meters wide, that will host a sports medicine centre operated by Quirónsalud.

Aena’s planned project for the land adjacent to the Barajas airport also stands out. The airport manager is forecasting a total investment of €2.997 billion over the next 40 years.

The project, with 2.7 million buildable square meters, will have logistics warehouses, offices, hotels and even a shopping centre. The company chaired by Maurici Lucena is searching for partners to develop its plans and, for now, the Blackstone fund and other major investors have demonstrated interest.

The Canalejas project, under development by OHL and Mohari Limited, a company owned by the Israeli executive Mark Scheinberg, is located in central Madrid. The venture, which will link seven historic buildings, will host Spain’s first Four Seasons hotel, along with luxury homes and a shopping area. The project is expected to involve €300 million in investments and is expected to be ready by 2019.

Madrid’s real estate and urban development plans will also affect the iconic Santiago Bernabéu stadium. In April, the city council gave the green light to a plan for reparcelling land for the new stadium, which will involve an investment of about €400 million.d

Housing at the Calderón

1,300 homes will be built on the grounds of another stadium, the Calderón, the former home of Atlético de Madrid. The sale of the land is expected to raise about €175 million in investments from any future buyers (developers), in addition to the more than €42 million stemming from the reparcelling project for the stadium and the grounds of the old Mahou factory.

Original Story: Expansion – Rebecca Arroyo

Translation: Richard Turner

 

Solvia Puts 3 Hospitals Up For Sale

13 October 2017 – Solvia.es

Solvia, the nationwide leader in real estate services, has put three hospitals in Spain owned by Banco Sabadell, up for sale through an orderly process. The assets are currently leased to the hospital group Quironsalud, a high-profile company in the healthcare sector in Spain, which is in turn, owned by the German healthcare group Fresenius, which acquired 100% of Quironsalud in 2016.

This operation, which is expected to be closed before the end of the year, will be one of the largest to take place in 2017; moreover, this year is forecast to see record levels of investment in Spain. The operation is expected to spark interest amongst investors and Solvia had already received several offers from domestic and international groups, even before the hospitals had been put up for sale.

Hospital Quirón Barcelona, regarded as one of the iconic hospitals in the city, was constructed in 2006 in a privileged location (Plaza Alfonso Comín 7), just 5km from the city centre; it comprises a total surface area of 58,000 m2.

Hospital Quirón Vizcaya is located in the town of Erandio (Carretera Leioa-Unbe, 33 bis), 10km from the centre of Bilbao, and comprises a surface area of 19,000 m2 spread over two buildings.

Meanwhile, Hospital Quirón San Sebastián acquired a former palace in 1990, just 2km from the city centre (Parque Alcolea 7), which was subsequently converted into a hospital, comprising a complex of three buildings with a surface area of 7,000 m2.

Currently, the healthcare market is experiencing a significant shortage of supply in the face of rising demand, and so investors are very interested in identifying more opportunities beyond the traditional markets (France, Germany and United Kingdom) (…).

So far in 2017, investment in tertiary real estate assets in Spain has recorded a significant increase with respect to the previous year, favoured by an improvement in domestic demand, a reduction in unemployment and the favourable performance of tourism, whilst returns have continued to be compressed due to the strong investor pressure.

Proof of this is that more than €7,000 million has been invested in non-residential assets during the 8 months to August 2017, which represents an increase of more than 60% with respect to the same period last year. This year is expected to close with higher real estate investment figures than in 2016, with a volume of around €10,000 million.

Solvia has become the market leader in the real estate services sector in Spain, maintaining a portfolio of 148,000 real estate assets under management, whose value exceeds €31,000 million and of which more than €4,300 million are financial assets. Similarly, the firm manages €1,200 million of assets comprising land under development.

Original story: Solvia.es

Translation: Carmel Drake

Cuatrecasas Buys Another Asset On La Diagonal For €7M

13 July 2017 – Eje Prime

Emilio Cuatrecasas is on a roll on Barcelona’s Avenida Diagonal. The lawyer’s family office, Emesa, has redoubled its commitment to the avenue with the acquisition of the headquarters of the Ophthalmology Institute for €7 million. This purchase follows its recent acquisition of 31,000 m2 of land in Project Finestrelles, located in Esplugues de Llobregat (Barcelona), where it plans to build six office blocks.

The building in question this time, which used to house the headquarters of Grand Tibidabo, has a surface area of 2,000 m2 and is located at number 632 on La Diagonal, at the intersection with c/Sarrià. The property has a long-term rental contract with the clinic, which currently belongs to the Quironsalud group.  The property used to be owned by the former owner of the Ophthalmology Institute in Barcelona, Andreu Coret, through the firm Inmo 632, according to Expansión.

In recent months, the investment arm of Emilio Cuatrecasas has made several acquisitions, including of number 444 on La Diagonal, for which it paid €35 million. That property, known as the Majorica building, has three façades overlooking La Diagonal, Paseo de Gràcia and Calle Còrsega, and until December last year, it housed the offices of the law firm Cuatrecasas.

Last summer, Emesa also completed the acquisition of a unique asset. The investor group purchased the Ullastrer Palace, in the Baix Empordà area, with the aim of promoting a premium hotel chain. The estate, known as Can Romaguera, is currently being restored and offers up to 2,500 m2 of space for hotel use, with an investment of €7 million.

The asset portfolio of Emesa, which is led by Ferran Forrellad, is completed by a building at number 191 on Avenida Diagonal, which houses the new headquarters of Cuatrecasas; number 579 on Avenida Diagonal, where Emesa’s headquarters of located; two office buildings in Mas Balu and a logistics park in El Pla de Santa María, in Tarragona.

Original story: Eje Prime

Translation: Carmel Drake