Barings, acting on behalf of institutional investors, has acquired Severo Ochoa 2, an office property located at Las Rozas Business Park in Madrid, Spain. The complex, which comprises c.12,700m² of Grade A office space and is the headquarters for a prominent bank, was designed by Julio Cano Lasso in 1992 and benefits from a parking facility for 350 vehicles, a recreation and sport area, a bar and cantina, an auditorium, landscaped external space, and terraces overlooking the surrounding mountains.
Las Rozas Business Park is in a highly sought-after location benefitting from direct access to both the A6 and M50 motorways and is located approximately 15 minutes walking distance from the commuter train station that connects to Madrid city centre. The purchase price was not disclosed.
Adolfo Favieres, Managing Director, Real Estate Country Head Spain at Barings, said: “This is a rare opportunity to acquire an award-winning office building in an under-supplied submarket which is set to benefit from continued strong occupier demand and rental growth. La Rozas Business Park is a well-established business hub with historically high occupancy rates. It benefits from excellent connectivity, design and amenities to make it an attractive location for business, and presents an opportunity to add value for our investors.”