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Barcelona registered €1.790M office investment record
17 March 2020 | Vanessa Sousa

«A new historical peak» in Barcelona’s office segment was reached in 2019. Savills Aguirre Newman’s numbers reveal that the 1.790 million euro registered at the end of the year not only trebled those of 2018 but also surpassed the highest amount on record: 1.300 million euro in 2007.

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According to the report, one of the factors that contributed to «reach the excellent annual result», were the 5 single asset mega-operations which were carried out in the Catalan capital last year.

One of these operations concerns the historic building located at Plaza de Catalunya in Barcelona, which was sold by Telefónica for 100 million to a private investor. Another one was the purchase of T-Systems’ headquarters by Colonial for 101 million euro.

There were, in total, 49 assets traded last year, 24 of which were included in portfolios. And this is another positive indicator which shows a growth when compared to 2018, when only 20 assets were purchased, revealed the latest report «Spotlight Oficinas Barcelona 4T 2019» from the consultant. The activity focused on the Catalan capital’s technological district @22, where 53% of the operations took place.

According to Savills AN, around 59% of the capital invested was international – around 780 million euro. «Germany stood out thanks to the portfolio of Generalitat’s eight headquarters, acquired by KanAm Grund Group and the purchase of a project in district 22@ by Commerz Real. Both operations surpassed 100 million euro», revealed the document.

This record value was registered after two years with a discrete appearance of the office segment within the tertiary investment market – only 27% on average. In 2019, the segment surpassed once again 40%, in line with its presence in the historical series.