Spanish REIT Hispania has acquired two office buildings in Barcelona for €40.5 mln.
Spanish REIT Hispania has acquired two office buildings in Barcelona for €40.5 mln.
Hispania purchased the properties in the Plaza de Les Glòries area of the city from its own resources.
The total leasable area of both buildings amounts to 18,200 m2, plus 4,700 m2 of underground space. The buildings are located at the intersection of Av. Diagonal with Gran Vía de Les Corts Catalanes and are part of the complex that includes the Shopping Centre Les Glòries, which is being fully refurbished. This upgrade will draw further value on the buildings which are part of the complex.
The complex is located in an area that offers one of the highest growth prospects within the Barcelona office market, currently absorbing a significant share of take-up in the city, along with the CBD. This area is connected to the city centre through subway, bus and tram and is 20 minutes away from the El Prat Airport.
Les Glòries is undergoing a profound transformation as a result of the new design of its central square, which will see the roads going underground, covered by a large park.
Cushman & Wakefield acted as adviser to the seller.