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Ministry Of Finance Sells Plot Of Land In Madrid To Vía Célere

Posted by: In: Real Estate 07 Nov 2016 Comments: 0 Tags: , , , , , , , , , , ,

7 November 2016 – Expansión

The Directorate General of Heritage, which forms part of the Ministry of Finance, has sold a plot of land with a buildable surface area of 11,230 m2 in the district of Moncloa-Aravaca in the north of Madrid, to the real estate company Vía Célere.

This plot was the most sought after (and most expensive) asset in a batch of 34 properties and plots of land that the Ministry led by Cristóbal Montoro put up for sale at the end of August.

The urban plot, which has been approved for residential use, is one of the few available spaces in Madrid that can be developed, at a time when there are hardly any new build properties on the market. With a surface area of 3,173 m2, the plot of land has a buildable surface area of 11,230 m2.

The Ministry of Finance put the plot of land on the market for €17.19 million. In the end, it has been sold to Vía Célere for €19 million.

The mechanism used by the Public Authorities to divest these properties is a standard auction procedure, governed by Royal Decree 1371/2009. They also have the option of executing a direct sale in the event that any of its auctions prove unsuccessful. In this case, the real estate company chaired by Juan Antonio Gómez-Pintado was awarded the plot in an auction held on 20 October.

New owner

Vía Célere was founded in 2010 by Juan Antonio Gómez-Pintado, following the sale of his family real estate company Agofer to the Sando group for €220 million. Since then, the company has not stopped growing and it currently has several residential projects underway in Madrid, as well as in Barcelona and Brazil.

Last year, Vía Célere recorded revenues of €103 million.

In April, the property developer acquired two other plots of land in Madrid for €10 million and it is also developing three projects in Barcelona. In addition, it is marketing another six developments in the capital. “We are continuing to make progress in our domestic market, following the path that we have set out for ourselves, which is, ultimately, to become the market leaders in our sector”, said Juan Antonio Gómez-Pintado, Chairman of Vía Célere.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

The post Ministry Of Finance Sells Plot Of Land In Madrid To Vía Célere appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts


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