French insurance group AXA has sold its headquarters at Avenida Diagonal in Barcelona to a local investment group for EUR 90 mln. Property services group Savills advised the vendor on what has been described as the largest transaction this year in the Catalan city.
French insurance group AXA has sold its headquarters at Avenida Diagonal in Barcelona to a local investment group for EUR 90 mln. Property services group Savills advised the vendor on what has been described as the largest transaction this year in the Catalan city.
The property totals 18,400 m2 and is located in L'Illa Diagonal development on Barcelona's central Diagonal Avenue. It is occupied by multinational companies including AXA, Unilever and Vinizius Young and Rubicam.
Ian Cassidy, head of Savills Barcelona, said: 'The sale of this property follows AXA’s merger with Winterthur. The premises sit within the most central area of the city, in which office vacancy is typically low at approx 1.5%, and has significant rental growth opportunities.'
The purchaser was represented by Banif, the private arm of Banco Santander.
