Barcelona’s 22@ grows hand in hand with One Parc Central office project

Through the supporter of non-residential assets, Dos Puntos Asset Management invested 50 million euros to purchase 54,000 meters of construction area spread over several parcels: for two very large 22.000 and 23,000 square meters offices, 7,500 square meters student dormitories and the remaining 2,500 square meters residences; although they later sold two that were intended for residential use.

The land they hold corresponds to the One Parc Parc Central 22@ office project consisting of two independent buildings. The first will complete its work and be delivered before the end of the year. With an investment of 40 million Euros, a 52-meter-high 33,616 square meter tower, spanning 12 office floors and 3 basement floors, was developed. It has already been sold to the executive of DWS, which is owned by Deutsche Bank financial institution, which has paid out € 128 million.

The developer and owner commissioned Savills and Cushman & Wakefield to market the property, but They confirm that they are in advanced talks with two companies that would be interested in settling there.. “Our building is 2,000 square feet per floor and is designed so that all tenants have a terrace for private use and a “penthouse” for community use,” Alfredo Laffitte Orti, managing director of Dos Puntos Asset Management, explained in an interview with EL. PERIÓDICO DE ESPAÑA is an agent of the Prensa Ibérica group, to which this newspaper belongs.

The second complex started foundation work in May, to analyze the consequences of the War between Russia and Ukraine after a hiatus. As it is slightly larger than the previous one, an investment of 50 million euros has been budgeted for and is scheduled for completion in 2024. They will not release for now and will continue development on their own. funds and bank financing.

One Parc Central 22@ is located in the north area of ​​22@, very close to Avenida Diagonal.. Here the buildability is very low; only one person owns land family officeBought from Realia for 18.5 million. The project covers four blocks of Ensanche, where approximately 100,000 square meters of offices, hotels, residences, student residences and the entire public section of the University of Barcelona and social facilities will be built.

Not the only project

“Värde Partners bought the real estate division of Grupo San José and Parquesol and merged it with the organizer Vía Célere. In 2017, the residential section, now Via Célere, split from the non-residential section that became Dos Puntos. We are siblings from the same parents. We move business assets, offices, logistics and hotels. It was a very diversified portfolio with a valuation of around 300-350 million. The euro and the order from the partners was that we needed to value the portfolio and sell it slowly but surely,” says the company’s commercial director.

The first assets they attacked were some office buildings in Portugal., only 60% were occupied. The company invested in a reform, reorganized the tenants and was able to fill the building 90-95% to continue selling. It’s the same operation as a shopping mall in Algeciras where they founded Inditex and Yelmo Cines and sold it for 56.8m euros.

Definitely, Another of the company’s major assets was a portfolio of hotels.Barcelona is divided between Valladolid and Gijón, which includes the Apollo Hotel in Barcelona. After a reform and agreement with Meliá, they sold the portfolio between mid and late 2021, with the pandemic in between.

Although many divestments have already taken place and the Barcelona project accounts for more than 80% of the assets, there are still assets to develop. For example, Julián Camarillo owns a plot of land for offices in partnership with Buick Immobilier in the Madrid expansion zone., at Hortaleza. They also own some land in the urban development of Las Laderas de Parquesol in Valladolid, along with Via Célere and San José. To this should be added an office building in the area of ​​​​El Prat Airport or the former headquarters of San José in Elche. “This is an atomized portfolio,” confirms Laffitte Orti.

office market in barcelona

The Barcelona office market will include 100,000 square meters of new buildings in the coming years. Last year, 12,000 square meters were delivered, to which is added the Estel building, which is 30,000 square meters under construction, 17,000 square meters is pending and 50,000 square meters is in the design phase.

The total stock of the city has reached 2 million square meters. According to a report by consulting firm CBRE, the average rent paid by tenants to landlords is €15.25 per square metre, up 50% from 2013.

in 2021 7 major operations recorded over 100 million euros. The average value of all assets changing hands is € 56.9 million. 70% of the offices with a transaction of 2,510 million Euros are registered in Barcelona, ​​mostly in the 22@ region.