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Former Bacardi Factory Plots in Málaga to go up for Sale for €15M

Posted by: In: Real Estate 11 Jun 2018 Comments: 0 Tags: , , , , , , , , , , ,
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7 June 2018 – La Opinión de Málaga

Yesterday, the consultancy firm Savills Aguirre Newman announced the upcoming sale of almost 75,000 m2 of land on the site of the former Bacardi factory in Málaga, an operation for which it is acting as the broker and which could reach a market value of around €15 million.

The land, which is classified as buildable industrial, could prove very attractive for investors, given the current lack of available spaces of this kind in Málaga on which to locate industrial or logistics facilities. The director of the consultancy in Málaga, José Félix Pérez-Peña, described the land as “one of a kind”, despite the fact that it is located on the Guadalhorce flood plan, and mentioned several high-profile “international funds” as possible interested parties. The consultancy firm, which indicated that the plots will come onto the market “soon” is placing the focus on the use of the site for office buildings.

Another attractive plot that Savills Aguirre Newman is brokering the sale of is the former Salyt brick factory, spanning almost 13,000 m2, although it is still unknown whether that will be allocated to industrial or commercial use. A Dutch group had expressed interest in building a shopping centre on the site although the price being requested by the Town Hall paralysed that operation. There has also been talk recently of the land housing a logistics warehouse. Pérez-Peña said that the final destination of these plots would be revealed over the next few months.

In terms of Astoria, he said that “several international groups are interested”, including one in particular that has properties of this kind in Spain and Europe and which may soon make contact with the Town Hall. In theory, the Town Hall is planning to convene a tender at the end of this year or the beginning of 2019 in which anyone who wants to will be able to participate (…).

Another one of the projects that is being “followed very closely” by Savills Aguirre Newman is that of Martiricos, where two residential towers are going to be built, plus an office building measuring 7,000 m2 and another commercial building measuring 3,000 m2. The consultancy firm classified it as one of the “star projects” in Málaga, which “is going to change” the city.

Pérez-Peña also summarised other matters such as the future of Pier 4, which has a surface area of 26,500 m2 and which, in his opinion, could become a great space for offices or homes. He also said that Repsol, spanning 117,000 m2, could be a wonderful enclave for making a city of offices, although that would be up to the Town Hall and Sareb to decide. And he also alluded to the potential of the Correos building (3,352 m2) as an office block, although he admitted that it would generate higher yields if it was allocated for residential or hotel use.

Original story: La Opinión del Málaga (by José Vicente Rodríguez)

Translation: Carmel Drake

The post Former Bacardi Factory Plots in Málaga to go up for Sale for €15M appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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