‘University Antonio de Nebrija’ Purchases a Church in Central Madrid

18 January 2019 – El Confidencial

Worshippers at the ‘Parroquía de San Jorge’, right in the centre of Madrid, will soon have to find another sanctuary in which to celebrate mass. The University Antonio de Nebrija has purchased the plot on which the church currently stands, on Calle Padre Damián 22.

Undoubtedly, an attractive asset for many institutions such as the German School, which had to move to Montecarmelo after it was unable to find a good location in the centre of Madrid, and the IE, which was looking for social land for years, but which is going to end up in the fifth tower of the Cuatro Torres business park, where the Campus IE University is going to be built.

The deal that has been signed a few metres from Paseo de la Castellana is one of the first real estate operations of the year and one of the most noteworthy, due to its location, behind the Santiago Bernabeú football stadium, in the middle of a prime area of the city, as well as due to the type of asset. The owner of the plot until now was the Fundación Condes del Val, which owned not only the land on which the parish stands but also a nursing home of the same name. The price paid has not been disclosed (…).

The plot on which the parish stands is dedicated to social use, and so the future building will have to have a very specific purpose, specifically, likely to be facilities for the university, which is currently located in the capital’s Ciudad Universitaria district (…).

Original story: El Confidencial

Translation: Carmel Drake

Iberdrola Inmobiliaria Buys Esteve’s Former HQ in Barcelona

27 June 2018 – Eje Prime

Iberdrola Inmobiliaria is acquiring space in the heart of Barcelona for new homes. The company has acquired the former headquarters of the pharmaceutical group Esteve, where it plans to promote residential properties and facilities.

The amount of the operation has not been revealed, according to Expansión. The building is located on Avenida Mare de Déu de Montserrat and has a surface area of 15,000 m2, part of which is dedicated to residential use and part to social use.

The pharmaceutical group has just moved all of its staff to a new headquarters in the Zona Franca area – that property is owned by Iberdrola Inmobiliaria and the group now occupies 12,000 m2 there.

Iberdrola Inmobiliaria is the parent company of the Iberdrola group’s real estate business. Currently, the company has a real estate portfolio in operation that has a gross leasable area of more than 200,000 m2.

Original story: Eje Prime 

Translation: Carmel Drake

‘Quirón Salud’ Considers Opening A Hospital In The Fifth Tower

7 October 2015 – Cinco Días

The Quirón Salud group is currently considering opening a hospital in the so-called fifth tower, the skyscraper that the Villar Mir group is planning to build at the northern end of the Paseo de la Castellana, on land that was previously home to Real Madrid’s former Ciudad Deportiva. This step would enable the company led by Juan Miguel Villar Mir to construct this emblematic building.

The Villar Mir group was awarded the plot of land next to the Cuatro Torres in April. The company is planning to build a new skyscraper on the site and has always hoped that building would house a private health centre. The corporation won this project, through its subsidiary Inmobiliaria Espacio, but does not have any tenants for the property for the time being.

Initially, the sector thought that the US hospital group Mount Sinai was the most likely candidate to occupy the skyscraper, in its first expected foray into Spain, but the numbers did not stack up for the healthcare company – it concluded that the rental charge was too high for a social use building, according to sources close to the operation.

Now, the baton may be passed to Quirón Salud, the main private hospital group in Spain, which was created following the merger of IDC Salud (formerly Capio) and Quirón. According to sources at the company, it is currently evaluating the project. The company has 70 health centres, including the Fundación Jiménez Díaz, and manages several public hospitals in Madrid, as well as a number of prestigious clinics such as La Luz, San José and the Ruber, in the capital and Teknon and Dexeus, amongst others, in Barcelona. However, the company has not yet confirmed what kind of centre or facilities it would consider opening in the tower.

Two weeks ago, it was announced that Villar Mir will receive help from the Swiss fund Corestate Capital to construct the skyscraper. In a statement, the company announced that the project will require investment of €240 million, and although it did not specify how much each partner will invest, it did say that the possible tenants will be “a hospital, university or government body”. In fact, construction of the property is not expected to start until the tenant (client) has been identified so that the building can be tailored accordingly.

Over the last few days, the possibility of opening a business school in the tower has been evaluated. Some market sources insist that it will be hard for Quirón to make the numbers stack up to open a hospital in the skyscraper.

Villar Mir acquired the plot of land in a tender after presenting the highest bid; the company will pay the Town Hall an annual fee of €4 million for 75 years, in other words, €300 million in total. The plot has a surface area of 67,000 m2 and a buildability of 70,000 m2, of which 52,500 m2 must be allocated to social use (for example, a hospital); the remainder will be developed as retail space. That part is precisely what the hundreds of employees who work in the four adjoining towers want the most, given the lack of restaurants and services currently in the area.

Villar Mir also owns one of those skyscrapers, Torre Espacio, which is currently up for sale, with an asking price of around €600 million. The possible bidders include international funds, such as UBS, Aca, Corporación Financiera Alba and Pontegadea.

Original story: Cinco Días (by A. Simón)

Translation: Carmel Drake