Millenium Acquires Plot of Land in Sotogrande for €33.2 Million

6 January 2020 Millenium Hotels Real Estate I has acquired beachfront land, including two golf courses, in the area around Sotogrande, Cádiz, for 33.2 million euros. The asset includes a 90,000-m2 plot of land in the Hacienda de San Roque estate, along with the companies Alcaidesa Holding and Alcaidesa Golf. Between them, those firms control an urban plot of land with 50,000 m2 of land for residential and hotel use, two golf courses and a clubhouse.

The socimi intends to develop a 5-star resort with almost 400 rooms (150 in the main building and the rest in 53 villas). The new development will also have several swimming pools, a gym, spa, sports areas, meeting rooms, restaurants and two 18-hole golf courses (Alcaidesa Link and Heathland Golf).

Millenium Hotels Real Estate I ha adquirido terrenos frente al mar, incluidos dos campos de golf, en los alrededores de Sotogrande, Cádiz, por 33,2 millones de euros. El activo incluye un terreno de 90,000 m2 en la finca Hacienda de San Roque, junto con las compañías Alcaidesa Holding y Alcaidesa Golf. Entre ellas, esas empresas controlan una parcela urbana con 50,000 m2 de terreno para uso residencial y hotelero, dos campos de golf y una casa club.

La socimi tiene la intención de desarrollar un complejo de 5 estrellas con casi 400 habitaciones (150 en el edificio principal y el resto en 53 villas). El nuevo desarrollo también tendrá varias piscinas, un gimnasio, spa, áreas deportivas, salas de reuniones, restaurantes y dos campos de golf de 18 hoyos (Alcaidesa Link y Heathland Golf).

Original Story: La Vanguardia – P. R. D.

Translation/Summary: Richard D. Turner

Goodman Real Estate Rings Out 2019 With Acquisition in Madrid

4 January 2020 Goodman Real Estate has finalised its acquisition of a plot of land in Getafe, Madrid, from Lonestar, CaixaBank and the Masaveu family for thirty million euros. The land, where Goodman will invest 90 million euros to build a new logistics facility, is located in the southern zone of Madrid.

The deal is an example of the type of logistics operations that are driving the Spanish sector, as the rise of e-commerce and a focus on last-mile facilities are ramping up demand. According to estimates by JLL, investors ploughed a record 1.818 billion euros into the sector in 2019, an increase of 27.5% year-on-year.

Approximately 50% of the logistics facilities sold in 2019 were in Madrid, while a further 25% were located in Barcelona. Secondary markets, such as Bilbao and Zaragoza, are also gaining prominence. The increase in investor interest has also squeezed profitability in the two largest markets, falling from 5-6% to just 4.75%.

En español

Goodman Real Estate ha finalizado su adquisición de un terreno en Getafe, Madrid, de Lonestar, CaixaBank y la familia Masaveu por treinta millones de euros. El terreno, donde Goodman invertirá 90 millones de euros para construir una nueva plataforma logística, se encuentra en la zona sur de Madrid.

El acuerdo es un ejemplo del tipo de operaciones logísticas que están impulsando el sector español, ya que el aumento del comercio electrónico y un enfoque en las instalaciones de última milla están aumentando la demanda. Según las estimaciones de JLL, los inversores invirtieron un récord de 1.818 millones de euros en el sector en 2019, un aumento del 27,5% interanual.

Aproximadamente el 50% de las instalaciones logísticas vendidas en 2019 se encontraban en Madrid, mientras que otro 25% se encontraba en Barcelona. Los mercados secundarios, como Bilbao y Zaragoza, también están ganando protagonismo. El aumento en el interés de los inversores también ha reducido la rentabilidad en los dos mercados más grandes, cayendo del 5-6% a solo el 4.75%.

Original Story: El Confidencial – E. Sanz / C. Hernanz

Translation/Summary: Richard D. Turner

Vía Célere, Aedas and Kronos Submit €120-Million Proposal to Acquire Land in Los Berrocales

4 January 2020 The developers Aedas, Vía Célere and Kronos have launched a joint bid to acquire two million square meters of land in Los Berrocales, Madrid. The land, the largest remaining plot of land in the capital’s south, has sufficient space to build up to 5,000 homes. The three companies submitted a proposal offering to pay 60 euros per square meter to a group of small property owners.

Market watchers expect protracted negotiations for the land, however. The regional authority has yet to agree to any kind of re-subdivision and urbanisation works. Even the most optimistic projections place the beginning of construction in 2022.

Las inmobiliarias Aedas, Vía Célere y Kronos han lanzado una oferta para adquirir dos millones de metros cuadrados de terreno en Los Berrocales, Madrid. La tierra, la mayor parcela de tierra restante en el sur de la capital, tiene espacio suficiente para construir hasta 5,000 casas. Las tres compañías presentaron una propuesta que ofrecía pagar 60 euros por metro cuadrado a un grupo de pequeños propietarios.

Sin embargo, los observadores del mercado esperan negociaciones prolongadas por las tierras. La autoridad regional aún tiene que aprobar cualquier tipo de obras de reparcelación y la urbanización. Incluso las proyecciones más optimistas sitúan el comienzo de la construcción en 2022.

Original Story: Idealista

Translation/Summary: Richard D. Turner

 

Parc Sagunt Sells Four New Plots of Land for €7.7 Million

3 January 2020 Parc Sagunt’s board of directors agreed to sell four plots of land in Parc Sagunt I for approximately 7.7 million euros, bringing the total sales to 44 plots of land in the development. Total receipts from the sales reached about 458 million euros, according to local authorities.

Nine plots of land, with a total surface area of ​​162,498 square meters, are left for sale.

Between them, Lannuti Spain, Industrial Facilities, Shopping Plataform, and Inmo Arnedo acquired a total area of 99,738 square meters for a combined 7,695,129 euros.

Original Story: Expansión

Translation/Summary: Richard D. Turner

 

Grupo Abu Acquires Land in Seville

18 December 2019 – The Seville-based real estate company Abu has managed to finalise the acquisition of several plots of land that had once belonged to the La Trinidad glass factory. Abu took two years to reach an agreement with the 41 small owners.

The agreement will permit Abu to begin the development of the land under the Carmona-Ronda de Capuchinos Special Plan for Internal Reform. The land has a total of 29,000 square meters, enough for 200 homes. The development would also provide the city with 14,167 square meters of free spaces and 1,578 square meters for services of public and social interest.

Original Story: ABC de Sevilla – María Jesús Pereira

Adaptation/Translation: Richard D. K. Turner

Valladolid City Council Swaps Assets With Sareb in €6.8 Million

18 December 2019 – The City of Valladolid has reached an agreement with Sareb to exchange several plots of land in Viveros, Avenida de Burgos and Cuarteles for a plot of land housing the former school El Salvador, in a deal worth 6,850,065.50 euros. The agreement had been conditioned on the value of the land received not exceed the appraised value of the school land, estimated at €7.4 million. The property had debts of more than 20 million euros.

The city plans to build a new Justice Campus on the school grounds, while Sareb will develop subsidised housing on the plots of land.

Original Story: El Diário

Adaptation/Translation: Richard D. K. Turner

General de Galerías Comerciales to Acquire 146,000-M2 Plot of Land in Valdebebas

2 December 2019 – The Valdebebas Compensation Board has approved the sale of a 145,790 square meter plot of land to the socimi General de Galerías Comerciales (GGC) under its Urban Action Program (PAU) for the district in Madrid. Details of the transaction, however, were not announced, though it is believed that the socimi would have paid over 200 million euros.

GGC plans on building a new commercial complex on the site, including 36,500 square meters of offices and more than 24,500 square meters of green areas and parks.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

ASG Homes to Invest €40 Million in New Rental Flat Project in San Sebastián de los Reyes

25 November 2019 – The Spanish subsidiary of the German developer ASG, ASG Homes, through its Fund VI investment vehicle, has finalised a deal to acquire enough land in San Sebastián de los Reyes (Madrid) to build more than 300 loft-style homes. The new rental housing project will involve a total investment of approximately 40 million euros.

With the acquisition, ASG Homes now boasts a 1,500-unit portfolio of rental flats, which it has built up in roughly a year and a half.

Original Story: El Economista – Alba Brualla

Adaptation/Translation: Richard D. K. Turner

VGP Acquires a 15,000-m2 Plot of Land in Cheste

19 November 2019 – The logistics developer VGP has acquired a more than 15,000-m2 plot of land from the Generalitat Valenciana’s Circuito del Motor y Promoción Deportiva (CMPD). The state-owned firm put the asset up for sale in August at an initial price of 2.7 million euros. VGP was the only bidder.

The land is located near the A3 Valencia-Madrid highway and is a part of the Cheste Circuit Business Park sub-division project. The public company currently has no plans to sell its second plot of land in the area, located near to the Ricardo Tormo Circuit. The company has been the only one to present an offer.

Zoned as urban land for commercial or industrial use, the plot of land has an area of ​​15,360.66 square meters and a buildable area of ​​9,984.43 square meters.

Original Story: Valencia Plaza – Begoña Torres

Adaptation/Translation: Richard D. K. Turner

Amenabar Wins Bidding for Ferrovial’s Land in Valdebebas

8 November 2019 – Amenabar won the bidding for a plot of land put on sale by Ferrovial in Valdebebas, just in front of the Cercanías RENFE stop in Madrid. The firm won out over Vivenio and Acciona, offering 56 million euros for the developable land. Amenabar has thus consolidated its position as the largest developer in the region, where it will build a total of nine developments, with approximately 1,000 new homes.

The sale fell in line within Ferrovial’s expectations, which had been around €2000/m2. The land measures a total of 27,200 m2, 22,700 m2 for residential development and 4,500 m2 for commerce, enough for roughly 230 new homes. Knight Frank provided Ferrovial with advice on the transaction.

The region of Valdebebas has seen several major transactions in recent months. A few months ago, Acciona also paid about €2,000/m2 (63 million euros) for a 31,700-m2 plot of land from Celteo. The land, which is located nearby Amenabar’s new asset, has enough land for about 260 homes.

Original Story: El Confidencial – Elena Sanz

Adaptation/Translation: Richard D. K. Turner