Archive for July, 2010

Spain commercial real estate transactions database to receive upgrade

Thursday, July 29th, 2010

Spain – commercial real estate investment and owner occupier transactions database provider, i-comparables.com, is significantly upgrading its web site this August. Subcribers include property investors, property investment agents, valuation surveyors and property researchers interested in the Spanish property market.

Online since 1st January 2010 i-comparables.com continues to develop its software and created added value for its subscription clients. Clients will soon benefit from added functionality and user types.

Transactions entered on the database from 15th September will include a risk profile covering tenant type, lease duration (or next break option) and the level of passing rent. Also included in the output file will be an estimate of ERV as at the time of the sales transaction. Three opinions of the estimated rental value (ERV) will be sought from leading agents and included in the property details page.

The new features will particularly help subscribers who are not familiar with a property market on a day to day basis. Information on ease of letting will also be provided in addition to the ERV.

For information on taking out a subscription to i-comparables.com please call Stan Dickens on one of the following numbers:
Madrid office: +34 914 471 700
Mobile: +34 610 418 654

We cover transactions of retail leasure centres, retail street shop units, office buildings and floors, industrial premises and logistics warehouses and other property types such as hotels, nursing homes and student residences.

Visit our home page for free Spanish commercial property market reports, useful links, our Spain real commercial estate investment market blog and more. | i-comparables.com

Mango acquire retail investment property, Calle Preciados 8, Madrid

Tuesday, July 13th, 2010

Prime retail investment real estate acquisitions in Madrid and Barcelona, Spain

Spanish retailer, Mango, has completed its second prime retail acquisition in a month. The firm acquired Calle Preciados 8, Madrid from Ballester Inmobiliaria for a price in the region of €20m. The purchase follows Mango’s €50m acquisition of Paseo de Gracia 36 from Banco Sabadell towards the end of June this year. Both buildings include non retail use upper floors.

Sources indicate that the upper residential floors of the Preciados building could be changed to retail use subject to negotiating the exit of the residential tenants.

Mango, whose major shareholder is Isak Andic, intend to open a store on the ground and basement levels of the Paseo de Gracia building. However, for the retail unit in the Calle Preciados property they will have to wait until expiry of the Foot Locker lease contract, or negotiate the exit of the tenant.

Contact i-comparables.com for more information on the above transactions and other information on the Spanish commercial real estate investment market. | i-comparables.com