State Industrial Subsidiaries Company (SEPI) He cannot sell his own foundation’s offices in Madrid. The company, which owns state shares of Spanish companies, launched an auction last May to get rid of the third floor of e-in.Number 2 of Quintana, Madrid’s central streetin Chamberí, but the process was closed without success.
This facility, especially for cadastral use as an office, 668 square meters built107 square meters of common areas need to be added to this. According to the terms of the tender, existence It went for 2 billion 269 million euros at auction.Almost 3,400 euros per square meter, considering only the surface of the facility. However, the price did not generate interest among investors.
Now, SEPI He lowered his expectations by 24 percent In the second auction of the foundation’s former headquarters, the starting price was 1 billion 718 million euros, below 2 thousand 600 euros per square meter. The only statement from the public company is that “the tender was invalid, therefore it was re-tendered with new conditions” and that “the sale was made due to the aim of increasing the efficiency of use of the Foundation’s properties.” ”
Investors have one and a half months to submit their bidsIt will be given directly to the highest bidder in a sealed envelope. The deadline for submitting bids is 23 February, before midnight, after the tender is published on 9 January.
The building where the asset subject to auction is located was built in 1981, but SEPI Foundation has registered it in its name since 2012., as it appears in the simple note of the entity. Additionally, in 2021, the Building’s Owners Community, prohibiting the use of any property as tourist accommodationA decision submitted to a notary.
In recent months, as a result of deteriorating access to housing in Spain’s main cities, a large number of investors have embarked on new investments. converting disused office buildings into homes or alternative rooms. Many of these projects conflict with urban planning legislation that prevents house building on tertiary land, but in some cases allows them to be converted into flexible or medium-term accommodation.
According to the ‘Office Property Telescope’ report prepared by EY, only in the capital 1.8 million square meters can be converted Office structured surface in case of repositioning as residential Construction of 20,000 houses.
A potential investor in the event of a SEPI auction can convert offices into temporary student accommodation or ‘co-living’, which is characterized by young professionals having individual rooms and shared spaces where they can live together, something that is not expressly prohibited by the agreement in the Owners’ Community.