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Ibosa buys parcel of Calderón for €70M
08 October 2019 | Vanessa Sousa

One more parcel of the former Vicente Calderón stadium was purchased. The buyer on this occasion was Ibosa offering Mahou 70 million euro for the asset.

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Known as RC1, the parcel which was just now sold has an 18.266 sqm housing buildable area, on which Ibosa plans to develop 200 new dwellings. In the future, each square metre should be sold for around 4.800 euro, according to Spanish newspaper El Confidencial. The parcel also has 3.741 sqm destined to develop retail spaces.

Ibosa will have to reach an agreement with co-ops in order to follow through with the adjudication process. Despite the lack of developments on this subject, market sources informed the same newspaper that the group should have the support of around 200 associates who will guarantee a 50% financial coverage.

The transaction represents the sale of the penultimate parcel of the so-called "Operación- Calderón", which includes the sale of 6 parcels on the terrains of the former Atlético de Madrid stadium, the Vicente Calderón. Three of these parcels were owned by the club itself (they were already traded this year) and the remaining three were owned by Spanish company Mahou. The latest operation was carried out by Pryconsa, which paid 55 million euro for the RC5 parcel to Mahou.