Metrovacesa obtains Renault`s areas in Madrid (ES)

Metrovacesa is the winner in the process of the purchase of the areas of Renault’s old headquarters, in the north of Madrid. The on-sale plate was hung at the end of last year and on the list of companies interested were also Realia Business and the French Bouygues.

The area of 90,000 m², situated in the Avenue of Burgos between the routes N-I and N-II, will in principle be dedicated to the construction of a business park. There are no figures of the operation’s cost, though inside the sector the experts consider it around 170 million Euros. The value per square meter in the French manufacturer’s old headquarters would be about 1.900 Euros. The price might go off up to 3.000 Euros if the Town hall re-qualifies the areas for the construction of housing. Arround the area the neighbourhoods of Las Tablas and San Chinarro are being constructed.

After the sale, Renault still does not have clear plans for the future location of its new headquarters.

Source: Spanish Real Estate

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