Colonial In the coming months, it will close its entry into a new segment in real estate: hospitals. Ibex-35’s second largest real estate agency in terms of market value and second largest in terms of portfolio value, only behind Pontegadea (investment tool Amancio Ortega), working on Transformation of an office building in the 22@ technology district inside socio-sanitary and hospital complexAs confirmed by real estate market sources to ACTIVOS, the economic support of Prensa Ibérica.
Company 22@ has a total of six buildings.With more than 93,600 square metres: Ciutat de Granada, 150, Diagonal, 220-230-240, Diagonal, 197, Sancho de Ávila 110-130, Llacuna, 56-70 and Llacuna, 42. Plans for change of use are at a not too advanced stage Even if they do, they will only include one of the features. When Colonial was consulted it did not specify which property would be subject to conversion.
Colonial’s industrial operations, as well as those of other real estate companies, purchasing a building for the purpose of implementing an improvement and keep it for long-term rental. After this period, which is a minimum of three years due to the regulation of the current Socimis (listed real estate investment companies), a sale takes place during which potential capital gains are collected, although this is usually longer in the case of the Catalan company. .
In this case, the potential investment, among other reasons, Current oversupply in the Catalan capital’s office marketespecially in the 22@ region. This new neighborhood was the transformation of a former industrial area into a financial district. However, in a short time thousands of square meters were put on the market for rent and it will take several months for the market to be digested and occupied, especially due to new trends in hybrid working.
Among the buildings that are candidates to be the leading actor in the change of use: Diagonal 197 and Sancho de Avila 110-130One of the milestones that real estate agencies without a sustainability certificate must meet. In the first case, the Colonial website states that it is in the process of acquiring it, but in the second it does not mention it. The place on Sancho Ávila street, purchased from the Castellví family in 2019, was leased to the German company T-Systems, which moved to a new building in 2023. This potential vacancy comes with the need for renovations, and when they return to the market, they rank it as the favorite to turn it into a health complex, receiving the most votes.
Future of former IBM headquarters awaited
Inside numbers 26 and 28 Santa Hortensia StreetUntil recently in Madrid Offices of North American technology company IBM, on Colonial-owned property. Infrastructure services and management decided to move their headquarters along with the removal of Kyndryl. IBM moved its offices to the capital’s financial district, Azca, where it rented 10,500 square meters to Merlin Properties; Kyndryl will occupy the Los Cubos Building off M-30, which is property of the Henderson Park fund.
Now that the building is vacant, Colonial is rethinking its future. The most suitable option on the table creating a mixed complex between offices and homes. Its location in the Prosperidad district consists mostly of residences and there is demand in the area. In addition, the listed real estate company has experience in developing complexes with various uses. Madnum, a new campus in Méndez ÁlvaroIn the south of Madrid, only 56,000 square meters of the 90,000 square meters will be used for offices, while the rest will be rental apartments and commercial spaces.
Bet on the socio-health sector
The real estate company’s entry into the hospital sector, led by Juan José Brugera and Pere Viñolas, is not the first in the industry. A few months ago, Saint CroixThe property vehicle of the Colomer family (owners of promoter Pryconsa) has reached a value. An agreement was made with Sanitas to build a hospital in ValdebebasIt is one of the last major projects implemented next to Barajas Airport in Madrid.
Currently in the socio-health sector, The most thriving asset type is nursing homes. In the face of increasing demand due to the aging of the population, significant funds have invested heavily in this type of real estate to create a large portfolio. The scarcity of existing public squares and the aging of buildings were also effective in the growth of this market.
The second growth trend is concept of ‘life science’Complexes for the pharmaceutical and research industry, where laboratories and experimental areas are combined with offices for the development of activity. The north of Madrid is one of the regions where this sector is most developed. “Greater dependence on medical devices and aging of the population, together with rapid innovation, are strengthening the growth of the sector,” says consultancy firm JLL in one of its latest reports on the subject.