Monday, November 23, 2020
Home Companies Approval is G...

Approval is Granted for Metrovacesa’s Office, Hotel and Commercial Project in the Former Clesa Factory

The development of a mixed-use tertiary complex, that will see offices built alongside a hotel and other spaces for commercial and residential use for students, could begin in 2021.

Infographic of the finished project in Madrid’s Fuencarral district.

Metrovacesa is continuing to develop its portfolio of value-added urban operations. On this occasion, it has received definitive approval from the Governing Council of the Community of Madrid for one of its strategic plots located on the site of the former dairy factory, in the district of Fuencarral-El Pardo, opposite the Ramón y Cajal Hospital. The regional government has agreed to the definitive approval of the Modification to the General Urban Plan for the creation of the Specific Planning Area 08.17 “Clesa”.

The proposal for the Modification to the General Plan includes a change in the characteristic use of the plot owned by Metrovacesa, from industrial use to tertiary services, but maintains the buildable surface area established in the General Plan of 88,702 m2. Metrovacesa plans to invest around 260 million euros in the development.

Read the full article in Spanish.


Madrid’s Salamanca Neighbourhood Resists Covid With No Price Decreases

The prices of commercial premises and homes for sale in the prestigious Madrid neighbourhood have remained stable; whilst the price of residential rental properties fell by 5% in the third quarter.

The Prices of New Homes Resist Covid and Continue to Rise

New build apartments in the Balearic Islands cost more than 580,000 euros on average; meanwhile, in Madrid, they cost 412,000 euros and in Castilla La-Mancha you can buy one for 122,147 euros.

The 22@ District, the Epicentre of Barcelona’s Real Estate Market

22@ is one of the most sought-after areas in Barcelona: large developers are building new residential projects and the district has the second highest prices for leasing office space in the city.

The Rental Market in Spain: the Stock Increases and Prices Fall

The average residential rental price in Spain reached 10.2 euros per square metre per month in the third quarter of 2020 and so prices remain at record highs despite the Covid-19 crisis.

Latest news

Henkel Launches a New Logistics Centre Spanning 24,000 m2 in Barcelona

The German multinational has invested more than 22 million euros in a new logistics centre that it has inaugurated in the Barcelona municipality of Montornès del Vallès.

42% of Spaniards Are Thinking About Moving Home, According to Vía Célere

However, only 11% of Spaniards would complete an entire home purchase online, according to a study prepared by the property developer owned by Värde Partners.

Merlin Could Receive €1.7 Billion if BBVA Closes the 700 Branches that it Leases from the Socimi

The financial entity is the Socimi's most important tenant, paying around 79 million euros per year for the rental of almost 700 branches, whose lease agreements are not due to expire until 2040.

Cerberus Creates a Rental Housing Manager with Thousands of Assets in its Portfolio

The investment giant has launched a company called MACC Residencial, which owns thousands of assets valued at 600 million euros that used to be owned by Banco Sabadell, BBVA and Santander.