European logistics property specialist P3 has emerged as the winner of the bid for the development of the first lot of a major logistics park at the Madrid Barajas airport.
P3, through its P3 Group Sarl unit, won the tender for Adolfo Suárez Madrid-Barajas Airport City with a €170 mln bid and will now go on creating a new company with Aena, the major airport operator.
The new company, which will be 65% owned by P3 and 35% by Aena, will be the leasehold owner of the area for a period of 75 years, with P3 contributing finance for the project and Aena the plot of land.
The awarded area comprises 28 hectares of land to be developed, with 152,914 m2 of building space. P3 will be targeting the BREEAM Excellent sustainability certification in urban planning and new construction.
Aena was advised by Deloitte and Garrigues while EY acted for P3.
