Home Office GMP Acquires ...

GMP Acquires a Plot to Build a 10,500 m2 Office Building in Madrid

The Socimi controlled by the Montoro family has acquired a plot in Sanchinarro with a buildable area of ​​10,500 m2 to construct an office; and plans to continue making purchases during 2021.

The Socimi GMP, controlled by the Montoro family and partially owned by the Singapore sovereign fund, has acquired a plot of land for tertiary use in Sanchinarro, in the north of Madrid. The operation was carried out as part of a judicial auction through which the company was awarded ownership of the plot.

The plot is one of only a few overlooking the A1 highway that has yet to be developed. In total, it has a buildable area of ​​almost 10,500 square metres. GMP has chosen this site for its next office development because it considers it to be one of the areas of the capital “with the greatest business potential, that is constantly growing and with a high concentration of high-profile domestic and international companies”, according to the Socimi.

Read the full article in Spanish.


Increased Demand for Houses in Madrid Leaves Supply at Six-Year Low

The demand for houses in Madrid following the coronavirus pandemic reduced supply by 28% in 2020, with interest concentrated on the city’s periphery. However, Moncloa-Aravaca still has the most detached properties for sale in the capital, according to Brainsre.

Where are the Highest Housing Yields in Madrid and Barcelona?

According to Brainsre, buying a property to let is currently yielding a gross profit of 4.6% in Madrid and 4.1% in Barcelona, the lowest value in the last five years.

A Snapshot of the Spanish Residential Market

Between March and December, the supply of single-family homes fell by 12%, falling twice as quickly as that for flats, due to a sharp increase in demand, according to Brainsre.

Latest news

Crisis Fails to Halt Sales of Commercial Assets: €1.9 billion on the Market

The Covid-19 pandemic led to a decline in investment in retail assets, with a total volume of €2.3 billion, a figure similar to that expected in 2021, according to EY.

Value Retail Invests €50 Million to Renovate Outlet in Barcelona

The remodelling of the Village involved direct investments of €50 million and indirect investments of €7 million, generating up to 170 new jobs.

Aedas Invested €132 Million in Land Last Year

Over the last fiscal year, Aedas, a developer controlled by Castlelake, invested 132 million euros in acquiring land, where it will be able to build up to 1,945 homes.

RLH Opens Rosewood Villa Magna This Year, Invests $110 Million in its Portfolio

The company has set aside 110 million euros to renovate three hotels in its portfolio, including the one located in Madrid.