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Bouygues places office building for sale for €55M
23 May 2019 | Vanessa Sousa

A new office project in Madrid is for sale. The building, which is still being developed by French Bouygues, is estimated at 55 million euro.

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But this amount, according to Spanish newspaper elEconomista, might change, given the variables that might influence it. Since this operation will only be closed once the asset is fully operational, its value might fluctuate depending on the level of occupancy and rents when the time comes to close the deal, for example. The company might be supported by consultant CBRE during the negotiations.

The building is located at number 49 Calle Julián Camarillo street in the Spanish capital and, according to the same newspaper, will have an 18.000 sqm buildable area. Its construction should cost Bouygues around 50 million euro.

«We are not patrimonialistic, we sell all we build and work with key in hand projects», mentioned Ana Vidal, in charge of the group in Spain, in an interview to elEconomista.

Besides this real estate project, the developer has at least two more under development in Spain. One in Madrid and one in Barcelona.