Metrovacesa signs the purchase of Vodafone's Headquarters in Madrid (ES)

The complex has two twin five-storey buildings with two floors of garages. The total area is of 25,811 m² and 815 parking spaces. Metrovacesa continues with its strategy of positioning itself as the leader in the North of Madrid.

Metrovacesa has bought Vodafone's registered offices for €96 million. The complex was owned by an international fund managed by ING Real Estate Investment Management. The mobile phone company, which occupies the entire building, will continue to be the tenant, at least until the year 2010.

The complex, located in La Moraleja Business Park, next to the A1 highway, consists of two twin five-storey buildings (ground floor plus four upper floors) and two storeys of garages. This gives a total of 25,811 m² and 815 parking spaces.

The park meets the majority of the main requirements of state-of-the-art buildings, amongst others: technical floor and false ceiling to house installations of every description, double glazing, heating and air-conditioning through fan-coils, 4 lifts for each block, totally normalized security systems: fire detection and extinction, entrance control.

The two buildings are surrounded by an exclusive private Japanese-style garden which serves as a seasonal area for tenants. The complex was built at the beginning of the nineties and, since then, Metrovacesa has been in charge of its maintenance.

With the purchase of Vodafone's headquarters - with the intermediation of FPD Savills- Metrovacesa acquires its first property in Las Moraleja Business Park, an area with excellent services (Moraleja Green Shopping Centre) and great development potential as the Metro will arrive in 2007 with a station only 200 meters from the building and from the Ciudad Telefónica, which will bring strong demand for offices in the immediate area.

Thus, Metrovacesa continues with its strategy of positioning itself as the leader in the North of Madrid, where it has the several Business Parks: Puerta de las Naciones Business Park, Alvento Park, Sanchinarro Park (recently inaugurated and already fully occupied), Las Tablas Park (to be inaugurated at the end of 2005), Isla Chamartín Park (inauguration in 2007), the Castellana Hall office buildings and the headquarters of Repsol YPF. It has also acquired Renault's plot in Madrid (where it is already developing a park of 123,000 m² above grade for offices and complementary shops. A park that will increase Metrovacesa's office portfolio in Madrid by 30% and where it is to build Renault España's new registered offices.

Metrovacesa wishes to have the best companies amongst its clients and is already the owner of the head offices of Hewlett-Packard España, Renault and Repsol YPF, and now adds Vodafone through this new transaction.

Source: Metrovacesa

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