section - Axiare Patrimonio

Transcription

| 29
3
LA Compañía
our company
1 Misión, Visión, Valores
Mission, Vision and Values
2Estrategia
Strategy
3 Régimen Socimi
Socimi Regime
4 Composición accionarial
Shareholder Structure
5 Cartera de Activos
Asset Portfolio
axiare PATRIMONIO | 2014 annual
report | 31
our company
Mission, Vision and Values
The word ‘Value’ is deeply rooted in our company name, and the
cornerstone of our core working philosophy.
Our main objective is to create value: create value in the
investments we make, add value to our properties via the active
management of the portfolio and thereby distribute value to our
shareholders and investors.
MISSION
VISION
VALUES
“Create a high quality property
portfolio over a long-term period, that
provides good yields on investment
and high returns for our shareholders,
via the active management of the
properties; aimed at creating
value, satisfying tenants and
championing environmental
sustainability”.
“We aim to become a leading
value-added investment company
in the Spanish real estate sector,
renowned for the high quality and
yield of its property portfolio,
for its stability and its
operating excellence and
professionalism”.
We are commited with maximising
returns on investment for our
shareholders and investors, acting
with the greatest of professionalism
and to the most exacting of
ethical standards. Axiare Patrimonio
applies the very strictest of
corporate governance
practices.
report | 33
our company Mission, Vision and Values
WE BASE OUR ACTIVITY ON THE FOLLOWING VALUES:
Fairness: we work with real estate
players and collaborators in order to
fairly distribute value in order to drive
the sector.
Corporate transparency: we
believe in genuine dialogue with our
stakeholders and we actively keep in
touch in order to build solid trustbased relationships.
Experience: we make up an expert
team with more than 100 years of
aggregated experience in the Real
Estate market. Our know-how and
connections in the sector are solely
oriented to create value.
Commitment: the team of directors
is fully and solely dedicated to its
goals and across the whole value
chain, which acts as a guarantee for
the interests of our shareholders and
investors.
Long-term approach: we fully believe
in sustainable value creation across
time and in the business environment.
For Axiare Patrimonio, value creation
goes beyond the current market
situation.
Innovation: we want to find new
ways of actively managing the
properties, in order to drive the value
of the portfolio and its sustainable
and environmental operation.
Efficiency: we strive to be well
positioned in order to identify
potential on and off-market deals; to
take quick decisions and be apt at
closing deals in a highly competitive
business environment.
Discipline: we continue to maintain
our strategy detailed in the business
plan, which provides stability to the
portfolio and we also have a welldefined cost structure, which allows
us to ensure a higher return to the
shareholder.
Client focused: we work to
provide a personalised, flexible and
constructive management service
for tenants with a view to ensuring
a good long-term relationship.
report | 35
our company
Strategy
The company was incorporated on 19 March 2014 and on 9
June 2014 elected to become a Spanish SOCIMI (Sociedad
Cotizada de Inversión Inmobiliaria) and has been listed on
the Madrid Stock Exchange since 9 July 2014. The company
believes it benefits from its position as one of the first
Spanish SOCIMIs and its Management Team’s extensive real
estate experience.
Axiare Patrimonio’s business strategy is to own and operate
its existing property rental portfolio through active property
management and expand it via the acquisition of new highquality commercial property assets (offices, logistics and
retail) that require active management, primarily located in
Madrid and Barcelona and other consolidated areas of Spain.
Axiare Patrimonio’s objective is to add value through active
property management and maximise operating efficiency
and profitability, in order to thereby improve the income
stream and gain greater value uplift.
When it comes to making investments, the company
takes into consideration the potential value uplift that can
be achieved via active management, via repositioning
or re-leasing strategies, or investments in refurbishing,
reconfiguring or renovating each property.
Axiare Patrimonio’s value-added business strategy differs
from other more opportunistic strategies, that are generally
exposed to a high degree of risk and offer a leveraged rate
of return, as they typically involve a significant amount of
“value creation” via investment and development in more
complex markets. Axiare Patrimonio’s investments also
differ from core and core plus strategies adopted by large
institutional investors, which typically entail investments in
fully operational properties or those that are close to 100%
let, with stable tenants and rent-rolls, that generally involve
little capital expenditure after acquisition, and therefore, less
active management.
The Company takes into
consideration the potential value
uplift that can be achieved via
improved active management
report | 37
our company Strategy
Board of Directors
CEO
Luis Alfonso López de Herrera-Oria
Internal Audit and Compliance Supervisor
Real Estate Directors
Guillermo
Fernández-Cuesta
Laborde
Fernando
Arenas
Liñán
Stuart
William
McDonald
CFO
Fabio
Alen
Viani
Legal
Director
Technical
Director
Chony
Martín
Vicente-Mazariegos
Management
Team
Supervision
Main Activities
Outsourcing
Financing
Investor Relations
Accounting & Tax
Governance Risk
Compliance
HR & IT
Legal Advice
Brokerage Services
Property Administration
Architecture
Technical Services
PR & Marketing
External Valuation, Audit
Core Value-Added Activities
Acquisition
Technical Analysis
Tenant Relations
Strategic Business Plan
Divestments
Valuation
External
RE Analysts & Finance Department
ORGANISATIONAL STRUCTURE
Axiare Patrimonio is a internally managed real estate investment company whose
management team forms an integral part of its organisational structure.
The in-house team works exclusively and solely for the company and its
shareholders. It is comprised of specialist professionals with extensive and
established track-records in the real estate sector, who have an in-depth
knowledge of the market. This expert team of professionals is capable of tackling
complex investment transactions in short periods of time and actively oversees
the entire value-creation process: from the initial identification of the investment,
right through to the active management and potential rotation of the property.
The company is supervised by a Board of Directors, the majority of whom are
non-executive directors that contribute skills from the real estate, finance and
legal sectors. The Board also receives advice from an Investment Committee
and Auditing and Monitoring Committee, which ensures that all investment and
profitability requirements set out by the company are complied with.
Axiare Patrimonio
has brought together
a solid team of
professionals from
the real estate
sector, with over 100
years of aggregated
professional
experience
MANAGEMENT TEAM
Luis Alfonso López de Herrera-Oria
CEO of Axiare Patrimonio
Luis Alfonso López de Herrera-Oria has more than 25 years of experience in the real estate
sector. He was Director of Prima Inmobiliaria, S.A. (currently Testa Inmuebles en Renta, S.A)
from 1986 to 2002. Over this period of time Prima was admitted to trading on the Madrid Stock
Exchange (1988) and in 1990 became the largest real estate company in Spain. Subsequently,
Luis López de Herrera-Oria founded Rodex in 2002 with a small team of former members of
Prima Inmobiliaria (currently Testa). In 2007 Rodex’s core business line was transferred to Alza
Real Estate, S.A., which up until recently López de Herrera-Oria was CEO until Axiare Patrimonio
was incorporated, he remains a Non-Executive Director at the company. Luis Alfonso López de
Herrera-Oria is also an independent advisor at funds such as, Falcon II Real Estate, founded by
Morgan Stanley and CBRE and iAdvise Partners EAFI, S.L. He graduated in Economic Sciences
from the Universidad Complutense of Madrid.
Chony Martín Vicente-Mazariegos
CFO and Director of Investor Relations
Chony Martín has an extensive track-record of more than seventeen years in the real estate
sector. Prior to joining Axiare Patrimonio, Chony Martín worked as Chief Financial Officer of the
Spanish Branch of Redevco – a Dutch company that manages a ¤6.5 billion European portfolio.
Prior to this, she worked at Testa Inmuebles en Renta and Prima Inmobiliaria, returning to again
form part of Luis López de Herrera-Oria’s team. She holds a degree in Business Administration
and Economic Sciences from the Universidad Complutense and has also studied different
management programmes at IESE, ESADE and IMD.
Guillermo Fernández-Cuesta Laborde
Real Estate Director and Deputy to the CEO
With 15 years of experience in the real estate sector, Guillermo Fernández-Cuesta began his
professional career in London, working as an analyst at Hillier Parker (currently CBRE), from
1999 to 2001. Once in Spain, he then went on to work at Prima Inmobiliaria (currently Testa)
in 2001, as a Real Estate Manager and in 2004 he became Director of Property Management
at Rodex, which transferred its core business line to Alza Real Estate, S.A. In 2007, then as a
member of Alza, he held the position of Director of Real Estate Investments and Deputy to the
CEO. Guillermo graduated in Business Administration, majoring in Finance from the Universidad
de Alcalá de Henares of Madrid. He also holds a degree in Business Administration, majoring in
International Commerce from the London South Bank University. He also holds a Master’s in Real
Estate Management from the London South Bank University.
report | 39
MANAGEMENT TEAM
Fernando Arenas Liñán
Real Estate Director
Fernando has more than 25 years of experience in the real estate sector. From 1990 to 1995 he
was Director of the Agency Department at Richard Ellis (currently CBRE). Between 1995 and
1998 he worked at the Distressed Real Estate (REOs) division of the Banco Santander Group.
From 1998 to 2002 he was Real Estate Director at Prima (currently Testa) and from 2002 to
2004 he was Acquisitions Director at Tishman Speyer Properties España, S.L. Between 2004
and 2012 he formed part of Hines Interests España Investments, S.L. and was its Managing
Director starting in 2009. In 2013 Arenas Liñán coordinated several of SAREB's portfolios at
CBRE and from Autumn 2013, he was Investment Director at Talus Real Estate until he joined
Axiare Patrimonio. He holds a degree in Law from the Universidad Autónoma of Madrid and an
MBA from the Madrid Business School and the University of Houston.
Stuart William McDonald
Stuart’s professional career spans more than 20 years in the real estate industry. He began his
career in the real estate sector in 1993, as a Valuation Executive at the UK’s Valuation Office Agency
(VOA), where he worked for 5 years. From 1998 to 2002 he was Associate Director at Knight Frank
in Madrid and from 2002 to 2005 he was the real estate director at Testa. He then went on to join
Hines in 2005 as Investment and Acquisition Director until he joined Axiare Patrimonio as Real
Estate Director. Stuart McDonald holds a Modern Languages B.A. from the University of Exeter
(UK) and holds a postgraduate degree in Real Estate Management and Valuation from the Sheffield
Hallam University (UK). He is certified by the RICS Assessment of Professional Competence Exam
and is a member of the Royal Institution of Chartered Surveyors in the United Kingdom.
Fabio Alen Viani
After beginning his career in the finance sector, where he held the position of Investment
Manager at various banks, such as Safei, Inversis and Lloyds Bank, in 2007 he joined Hines as
a Real Estate Investments and Acquisitions Analyst, where he subsequently went on to hold
the position of Associate up until 2014, when he then joined Rodex Asset Management as Real
Estate Director. Fabio Alen holds a degree in Business Administration from Madrid's Universidad
Complutense, specialising in Finance, he is also a Certified European Financial Analyst and a
member of the European Federation of Financial Analysts Societies.
report | 41
report | 43
our company
Socimi Regime
The main legal and finance aspects of a SOCIMI are detailed
below.
The search for continual improvements in the well-being
of citizens requires the implementation of new investment
models, which adequately meet the continuing needs of
the market. In this sense, Act 11 of 26 October 2009, which
contains the regulations governing Real Estate Investment
Companies, together with the changes introduced by Act
16 of 27 December 2012, establish the legal framework
required to regulate SOCIMIs, which are a new investment
instrument in the real estate sector and, more specifically,
the rentals market.
The main CORPORATE PURPOSE of SOCIMIs is the
acquisition and development of urban properties to let; and
holding shares in other SOCIMIs or in other companies that
meet the same requirements in terms of investment and
the distribution of profits.
## At least 80% of the SOCIMI must be invested in
properties to let, land for the development of properties
that will be to let and shares in other SOCIMIs or
institutions that classify as such.
## The minimum investment holding period for the
properties is 3 years.
## 80% of rents from each year must come from the letting
of properties or dividends from institutions affected by
the compliance of the business purpose.
## SOCIMIs must DISTRIBUTE THEIR PROFITS once their
commercial obligations have been met. This dividend
distribution should be applied as follows:
Dividend Distribution
This law, which was created by the government in order
to encourage a recovery in the real estate sector, allows
SOCIMIs the option of applying SPECIAL FISCAL RULES
in respect of Company Tax, with a base rate of 0% and a
special rate of 19% on dividends distributed to shareholders
with a holding of 5% or more, when such dividends are tax
exempt or are taxed at a rate of less than 10% in the place
in which the shareholder is tax resident.
50%
Profits from
the transfer
of properties
or shares
To have the option of applying this special regime,
SOCIMIs must fulfil certain requirements:
## SOCIMIs must be listed for trading on a REGULATED
MARKET.
100%
80%
Profits from
dividends
Other profits
obtained
our company
Shareholder structure
Axia Real Estate Socimi, S.A. share capital comprises 36,006,000 shares, listed on
the Spanish Stock Exchange, and are currently traded on the following indexes:
##
##
##
##
##
##
Shareholders
by Country
IGBM (Madrid Stock Exchange General Index)
IGBM FINANCIAL SERVICES and REAL ESTATE
IGBM SOCIMI
IGBV (Valencia Stock Exchange General Index)
IGBV INVESTMENT SERVICES
IGBV SOCIMI
Shareholding Structure1
Shareholders
Perry Partners International Inc.
T. Rowe Price Associates Inc.
Taube Hodson Stonex Partners LLP
Citigroup Global Markets Limited
JPMorgan Chase & Co.
Barclays Bank PCL
Deutsche Bank A.G.
(1) According to major holdings notifications to the CNMV at 18/03/2015.
Position (%)
29.162
10.074
11.109
9.165
5.804
4.214
3.908
55%
17%
5%
4%
1%
1%
18%
US UK Switzerland Germany Ireland Spain Others
report | 45
report | 47
our company
Asset Portfolio
During 2014, Axiare Patrimonio completed 8 real estate transactions creating
a portfolio comprised of 16 properties valued at ¤424 million and with a Gross
Lettable Area (GLA) of 388,000 sqm. This portfolio has increased in value to
¤439 million at 31 December 20141.
ASSET VALUE
BREAKDOWN
by class
ASSET VALUE
BREAKDOWN
by location
GLA
(‘000 sqm)
388
1,920 parking
spaces
67%
23%
10%
Offices Logistics Retail
70%
20%
10%
MAD BCN Other
(1) Portfolio valuation carried out by CBRE, in accordance with RICS valuation standards
based on net market value as at31/12/2014.
48 | informe
ESPAÑA
anual 2014 | axiare PATRIMONIO
A CORUÑA
OVIEDO
FRANCE
BILBAO
LEÓN
ZARAGOZA
BARCELONA
7
16
GUDALAJARA
14
SALAMANCA
TARRAGONA
MADRID
CÁCERES
PORTUGAL
VALENCIA
CIUDAD REAL
MURCIA
CÓRDOBA
SEVILLA
GRANADA
12
MÁLAGA
ALGECÍRAS
OFICINAS / OFFICES
1
2
Francisca Delgado
Francisca Delgado 11, 2818 Alcobendas, Madrid
Avenida de la Vega
Avda. de la Vega, 15, 2818 Alcobendas, Madrid
3
Fernando El Santo
Fernando el Santo, 15, 2801 Madrid, Madrid
4
Manuel de Falla
C/ Manuel de Falla 7, 28036 Madrid, Madrid
5
Ribera del Loira
C/ Ribera del Loira, 28, 28042 Madrid
6
Cristalia
Via de los Poblados, 3 28033 Madrid, Madrid
7
Diagonal
Avda. Diagonal 197, Barcelona, Barcelona
PLATAFORMAS LOGÍSTICAS / LOGISTICS PLATFORMS
8
Camarma de Esteruelas
Sector SI-4 “La Raya Industrial”, Camarma de Esteruelas, Madrid
(*) Los gráficos de esta sección han sido confeccionados por Axia Real Estate Socimi, S.A. tomando como referencia datos agregados
emitidos por CBRE en opiniones de valor de carácter transaccional y en ningún caso de valoración reglada (RICS, ECO o cualesquiera otras).
Tal informe fue confeccionado en fecha 26 de enero de 2015 para que únicamente Axia Real Estate Socimi, S.A. pudiera depositar su confianza
en el mismo. Por tanto, CBRE no otorga garantía ni asume responsabilidad alguna frente a los usuarios del presente folleto por tales datos ni
asimismo, asume obligación de proporcionar aclaración y/o información adicional.
report | 49
SAN AGUSTÍN
DE GUADALIX
MADRID
COLLADO
VILLALBA
GUADALAJARA
13
11
TRES CANTOS
TORRELODONES
SAN SEBASTIAN
DE LOS REYES
15
FUENCARRAL
EL PARDO
10
FRANCISCA
1 DELGADO
8
2
MAJADAHONDA
Pº DE LA CAST
ELLANA
VALVERDE
LAS ROZAS
ALCALÁ
DE HENARES
HORTALEZA
6
CHAMARTÍN
MADRID
4
POZUELO
MONCLOA
ARAVACA
CIUDAD
LINEAL
SALAMANCA
MADRID
CENTRO
3
TORREJON
DE ARDOZ
5
SAN BLAS
CANILLEJAS
COSLADA
RETIRO
MORATALAZ
ARGANZUELA
VILLAVICIOSA
DE ODÓN
PUENTE
DE VALLECAS
RIVAS
VACIAMADRID
ALCORCÓN
9
LEGANÉS
MÓSTOLES
ARGANDA
DEL REY
GETAFE
FUENLABRADA
CBD Castellana / Castellana CBD
CBD Secundario / Secondandary CBD
PARLA
Centro Ciudad / City Centre
SAN MARTÍN
DE LA VEGA
9
Rivas
Mariano Benlliure 28521 Rivas-Vaciamadrid, Madrid
BR Periférico / Peripheric BD
13
Guadalix
C/ La Lobera, 28750 San Agustín de Guadalix, Madrid
10 Km
10
Azuqueca de Henares
Construcción 9, 19200 Azuqueca de Henares, Guadalajara
11
Cabanillas
C/ Rayo 5, Cabanillas del Campo, Guadalajara
12
Dos Hermanas
C/ Torre de los Herberos, 61 41700 Dos Hermanas, Sevilla
14
Valls
C/ Moixiganga, 5 Valls, Tarragona
RETAIL
15
Planetocio Avda. Juan Carlos I, 46, 28400 Collado
Villalba, Madrid
16
Les Gavarres
Carretera Reus, 55, 43006 Tarragona
(*) The graphs in this section have been prepared by Axia Real Estate Socimi, S.A. by referencing aggregate data issued by CBRE on opinions
of transactional values, which in no case may be construed as regulated valuations (RICS, ECO or any others). This report was prepared on 26
January 2015 and only Axia Real Estate Socimi, S.A. may rely on it. Hence, CBRE does not grant any guarantee or assume any responsibility
whatsover in relation to the readers of this annual report relating to this data, nor does it assume any responsibility to provide any form of
clarification and/or additional information.
50 | informe
SAN SEBASTIAN
DE LOS REYES
FUENCARRAL
EL PARDO
A-1
FRANCISCA
FRANCISCA
DELGADO
DELGADO
M-40
Francisca Delgado
LA CASTE
LLANA
Pº DE LA CASTE
LLANA
VALVERDE
ALCALÁ
DE HENARES
C/ Francisca Delgado 11, Madrid
HORTALEZA
POZUELO
MONCLOA
Pº DE
CHAMARTÍN
CITY
CITY
CENTRE
CENTRE
M-30 ARAVACA
TORREJON
DE ARDOZ
Submercado
Arroyo de la Vega Submarket Arroyo de la Vega
CIUDAD
LINEAL
M-30
SALAMANCA
MADRID
CENTRO
SAN BLAS
CANILLEJAS
M-40
COSLADA
17.266 SBA (m2)
17,266 GLA (sqm)
RETIRO
MORATALAZ
ARGANZUELA
PUENTE
DE VALLECAS
RIVAS
VACIAMADRID
CÓN
LEGANÉS
ARGANDA
DEL REY
GETAFE
FUENLABRADA
PARLA
SAN MARTÍN
DE LA VEGA
395 Plazas Aparcamiento
395 Parking Spaces
66,9% Tasa Ocupación
66.9% Occupancy Rate
report | 51
report | 53
our company Asset Portfolio
OFFICES
Francisca Delgado
DESCRIPTION
KEY FACTS
Axiare Patrimonio’s first acquisition, this Class A office building
was acquired from IVG in July 2014. It is located in the Arroyo
de la Vega Office Submarket. Developed in 2001 and designed
by Rafael de la Hoz, the building is arranged over five storeys
and comprises 14,835 sqm (GLA) of office space plus 2,431 sqm
of storage. Two basement floors provide 316 parking spaces
with a further 79 exterior spaces.
Net Acquisition Price
Gross Acquisition Price
Net Acquisition Price / sqm
Market Value1 (Dec. 14)
Location: The asset is located seven-minutes walking distance
from the "La Moraleja" metro station and benefits from excellent
access to the airport, the CBD and the city's orbital motorways,
and is highly visible from A-1 highway.
Tenancy: Multi-tenanted and 70% occupied, 4,793 sqm of
vacant office space, plus 927 sqm of storage. Rents are rackrented.
Main tenants: Neinver, St Jude Medical , Genetsis Partners.
Many tenants have been in the building since completion.
¤28.75m
¤29.27m
¤1,665
¤35.00m
CAPITAL APPRECIATION
Peak Value in Submarket*
Asset Acquisition Price
Asset Market Value1
Avg. Market Value in Submarket*
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
WAULT2: 2.5 years.
Peak Rent in Submarket*
Current Rent in the Building
Avg. Market Rent in Submarket*
Current Market Rent in Submarket*
(*) Source: CBRE.
(1) Valuation by CBRE at 31/12/2014, based on RICS standards.
(2) Weighted Average Unexpired Lease Term at 31/12/2014.
(3) CBRE Valuation Advisory, S.A. has proceeded to carry out the "theoretical breakdown and sum of the items that have an impact on a real estate development”,
in relation to the properties that form part of the Axiare Patrimonio portfolio. In said breakdown we have taken into consideration the following items: land,
construction cost, professional fees, licenses and developer's profit. These items have been determined in accordance with the weighted average costs of the market,
depending on the location, use and specifications of the specific property. Once the different items that have an impact on the property development have been
calculated, we have combined them and discounted them in line with the age of each asset, thus obtaining the sum of the net replacement cost of the properties in
Axiare Patrimonio's portfolio. In no case does the final amount obtained correspond to the Market Value or the Depreciated Replacement Cost of the assets.
54 | informe
SAN SEBASTIAN
DE LOS REYES
FUENCARRAL
EL PARDO
A-1
FRANCISCA
AVENIDA
DE DELGADO
LA VEGA
M-40
Avenida de la Vega
LA CASTE
LLANA
Pº DE LA CASTE
LLANA
VALVERDE
ALCALÁ
DE HENARES
C/ Avenida de la Vega 15, Madrid
HORTALEZA
POZUELO
M-30
MONCLOA
ARAVACA
Pº DE
CHAMARTÍN
CITY
CITY
CENTRE
CENTRE
TORREJON
DE ARDOZ
Submercado
Arroyo de la Vega Submarket Arroyo de la Vega
CIUDAD
LINEAL
M-30
SALAMANCA
MADRID
CENTRO
SAN BLAS
CANILLEJAS
M-40
COSLADA
22.579 SBA (m2)
22,579 GLA (sqm)
RETIRO
MORATALAZ
ARGANZUELA
PUENTE
DE VALLECAS
RIVAS
VACIAMADRID
CÓN
LEGANÉS
ARGANDA
DEL REY
GETAFE
FUENLABRADA
PARLA
SAN MARTÍN
DE LA VEGA
461 Parking Spaces
report | 55
report | 57
OFFICES
Avenida de la Vega
DESCRIPTION
KEY FACTS
Class A office complex acquired in September 2014, located in
the Arroyo de la Vega Office Submarket. Developed in 2000
by Levitt and in a very good state of repair, it comprises four
8-storey office buildings totalling 22,579 sqm (built) and 441
parking spaces distributed over two underground levels and 20
exterior parking spaces.
¤52.00m
¤52.93m
¤2,303
¤53.30m
Location: The asset is located seven-minutes walking distance
from the "La Moraleja" metro station and has excellent access to
the airport, the CBD and city’s orbital motorways, and is highly
visible from the A-1 highway.
Tenancy: Multi-tenanted and 85% occupied, vacancy of 3,415
sqm. Rental levels Rack-rented.
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
Main tenants: Xfera Moviles – Yoigo and Cisco Systems. Most of
these tenants have been in the building since its completion.
RENTAL COMPARISON
WAULT2: 1.3 years.
(*) Source: CBRE.
58 | informe
FERNANDO
EL SANTO
NO
CALLE DE VEL
CAS
TEL
LAN
A
NO
VA
CALLE D
E SERRA
GÉ
E LA
E
Pº D
LL
AZQUEZ
CA
ALÁ
LE
CAL
LC
DE A
Fernando el Santo
C/ Fernando el Santo 15, Madrid
Submercado CBD Castellana Submarket Castellana CBD
3.254 SBA (m2)
3,254 GLA (sqm)
42 Parking Spaces
report | 59
report | 61
OFFICES
Fernando el Santo
DESCRIPTION
KEY FACTS
The property, which has been fully redeveloped, features an
elegant period façade and is considered to be a listed heritage
property with a high level of urban building protection. It is
arranged over six floors and it benefits from basement car
parking, which is unusual for this type of building.
Location: This office complex is located in the Central Business
District just two blocks away from Paseo de la Castellana and
has direct access to the city's main roads.
Tenancy: Multi-tenanted and 89.12% occupied. Current rents are
below market.
¤16.50m
¤16.81m
¤5,071
¤20.00m
Asset Market Value1
Development Cost* 3
Main tenants: Broseta Abogados and Stage Entertaiment.
(*) Source: CBRE.
WAULT2: 0.7 years on income.
RENTAL COMPARISON
(*) Source: CBRE.
AVDA. GENERAL PER
ÓN
Pº DE LA CA
STELLANA
62 | informe
MANUEL
DE FALLA
Manuel de Falla
C/ Manuel de Falla 7, Madrid
SANTIAGO
BERNABEU
Submercado CBD Castellana Submarket Castellana CBD
AVDA. DE CONCHA
ESP
INA
AZCA
6.244 SBA (m2)
6,244 GLA (sqm)
39 Parking Spaces
–% Tasa Ocupación
–% Occupancy Rate
report | 63
report | 65
OFFICES
Manuel de Falla
DESCRIPTION
KEY FACTS
Forward purchase of a Class A office building located in
Madrid´s CBD. The building, currently under refurbishment,
offers 6,244 sqm GLA distributed over four above ground floors
(ground, first floor and two upper floors) plus a basement
with 39 car parking spaces. It will be delivered with LEED Gold
certification. Excellent rectangular floorplate of 1,400 sqm.
¤31.00m
¤31.62m
¤4,965
¤31.40m
Location: CBD location just off Paseo de la Castellana near the
AZCA business district. Excellent public and private transport
connectivity including Metro and Regional Rail networks.
Tenancy: the building is vacant with no pre-lets at present.
Marketing campaign and tools under design.
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
SAN SEBASTIAN
DE LOS REYES
66 | informe
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
M-40
NDA
LA CASTE
LLANA
Pº DE LA CASTE
LLANA
VALVERDE
S
HORTALEZA
POZUELO
M-30 MONCLOA
Pº DE
CHAMARTÍN
CITY
CITY
CENTRE
CENTRE
ARAVACA
TORREJON
DE ARDOZ
RIBERA DEL
LOIRA
A-2
CIUDAD
LINEAL
M-30
SALAMANCA
MADRID
CENTRO
Ribera del Loira
ALCALÁ
DE HENARES
C/ Ribera del Loira, 28, Madrid
Submercado Campo de las Naciones Submarket Campo de las Naciones
SAN BLAS
CANILLEJAS
M-40
COSLADA
RETIRO
MORATALAZ
12.822 SBA (m2)
12,822 GLA (sqm)
ARGANZUELA
PUENTE
DE VALLECAS
370 Parking Spaces
A-3
M-40
RIVAS
VACIAMADRID
ALCORCÓN
LEGANÉS
ARGANDA
DEL REY
GETAFE
FUENLABRADA
PARLA
SAN MARTÍN
DE LA VEGA
100% Tasa Ocupación
100% Occupancy Rate
report | 67
report | 69
OFFICES
Ribera del Loira
DESCRIPTION
KEY FACTS
Class A office building acquired from Credit Suisse Asset
Management in December 2014 in the Campo de las Naciones
office submarket. This six storey office building was developed
in 2002 and comprises 12,822 sqm distributed in a U-shape
around a central atrium. Two basement floors accommodate
370 car spaces.
¤47.00m
¤48.13m
¤3,666
¤47.50m
Location: The building is located in Campo de las Naciones –
the city’s best office area outside the CBD. It has a prominent
location on the M-40 ring road and enjoys excellent public and
private transport links. Proximity to the airport.
Tenancy: The building is 100% let and the main tenant is BNP
Paribas which has occupied the property since 2002.
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
SAN SEBASTIAN
DE LOS REYES
70 | informe
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
M-40
NDA
LA CASTE
LLANA
Pº DE LA CASTE
LLANA
VALVERDE
S
M-30 MONCLOA
Pº DE
POZUELO
ARAVACA
CRISTALIA
TORREJON
DE ARDOZ
A-2
CIUDAD
LINEAL
M-30
SALAMANCA
MADRID
CENTRO
Cristalia
HORTALEZA
CHAMARTÍN
CITY
CITY
CENTRE
CENTRE
C/ Vía de los Poblados, 3, Madrid
Submercado Campo de las Naciones Submarket Campo de las Naciones
SAN BLAS
CANILLEJAS
M-40
COSLADA
RETIRO
MORATALAZ
17.338 SBA (m2)
17,338 GLA (sqm)
ARGANZUELA
PUENTE
DE VALLECAS
ALCALÁ
DE HENARES
391 Parking Spaces
A-3
M-40
RIVAS
VACIAMADRID
ALCORCÓN
LEGANÉS
ARGANDA
DEL REY
GETAFE
FUENLABRADA
PARLA
SAN MARTÍN
DE LA VEGA
report | 71
report | 73
OFFICES
Cristalia
DESCRIPTION
KEY FACTS
Twin office buildings acquired from Credit Suisse Asset
Management in December 2014, the buildings are located in
the Campo de las Naciones submarket. Seven storey buildings
developed in 2007, which provide 17,338 sqm of highly
efficient, column-free accommodation. They share a two storey
basement car park that benefits from 375 spaces with a further
16 exterior spaces.
Location: The buildings are equidistant between the CBD and
the airport in the consolidated Cristalia Business Park. They
enjoy a very prominent position beside the M-40 ring road.
Public transport provided via Metro and urban bus services.
Tenancy: Property partially let (84%) to blue chip multinationals
such as Electronic Arts and CHEP.
¤53.00m
¤54.27m
¤3,057
¤54.75m
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
E
LE
S
C
O
R
TS
74 | informe
G
DIAGONAL
197
O
N
D
A
LI
TO
R
A
L
Submercado 22@ Submarket 22@
R
PARC DE LA
CIUTADELLA
Diagonal
C/ Diagonal 197, Barcelona
AVDA. MERIDIANA
G
R
A
N
V
IA
D
E
LE
S
C
O
R
TS
PLAÇA DE
LES GLORIES
CATALANES
R
A
N
V
IA
D
NAL
O
IAG
A. D
AVD
15.351 SBA (m2)
15,351 GLA (sqm)
222 Parking Spaces
report | 75
report | 77
OFFICES
Diagonal
DESCRIPTION
KEY FACTS
Landmark office tower acquired from Credit Suisse Asset
Management in December 2014 located on Barcelona’s principal
thoroughfare, Avenida Diagonal. This striking 17 storey building
was developed by local developer Laietana in 2007. It provides
15,531 sqm GLA with 222 car spaces distributed over three
basement floors with a further 29 motorbike spaces.
¤53.00m
¤54.43m
¤3,452
¤53.00m
Location: The building is located within the city’s 22@
regeneration area near the junction of Diagonal with Plaza
Glories. The office tower is in close proximity to the iconic
Agbar Tower and Unibail’s regional shopping centre Les Glories.
Public transport provision is excellent with Metro, bus and tram
connectivity.
Tenancy: The building’s principal tenant is Sellbytel with three
other occupiers. The building is 100% let.
WAULT2: 2.3 years.
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
78 | informe
SAN AGUSTÍN
DE GUADALIX
GUADALAJARA
TRES CANTOS
A-1
ONES
CAMARMA
SAN SEBASTIAN
DE LOS REYES
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
R-2
VALVERDE
Pº DE LA CASTELL
HORTALEZA
CHAMARTÍN
CITY
CENTRE
TORREJON
DE ARDOZ
CIUDAD
LINEAL
MADRID
POZUELO
MONCLOA
ARAVACA
SALAMANCA
MADRID
CENTRO
A-2
ALCALÁ
DE HENARES
ANA
LAS ROZAS
MAJADAHONDA
SAN BLAS
CANILLEJAS
COSLADA
BARCELONA
Camarma
Sector SI-4 “La Raya Industrial”,
Camarma de Esteruelas, Madrid
Submercado Madrid, 2o anillo Submarket Madrid, 2nd ring
M-50
RETIRO
MORATALAZ
ARGANZUELA
PUENTE
DE VALLECAS
RIVAS
VACIAMADRID
70.296 SBA (m2)
70,296 GLA (sqm)
ALCORCÓN
LEGANÉS
MÓSTOLES
ARGANDA
DEL REY
GETAFE
FUENLABRADA
A-3
PARLA
SAN MARTÍN
DE LA VEGA
107 Muelles de Carga
107 Loading Docks
100% Occupancy Rate
report | 79
report | 81
LOGISTICS
Camarma
DESCRIPTION
KEY FACTS
Excellent logistics warehouse acquired in October 2014 from
LEGII (Lasalle Investments), located in Camarma (Madrid).
The warehouse was developed in 2002 by Riofisa, with a
subsequent extension in 2004, and has been fully occupied by
Alcampo (Auchan Group) since completion. It offers 107 loading
bays and totals 70,298 sqm of lettable area for logistics use,
including a 1,256 sqm office annex.
Location: The asset is located in Camarma, very close to Alcalá
de Henares and 35 kms from Madrid's city centre. It enjoys
excellent access to the A2 motorway, and R-2 toll motorway.
¤26.00m
¤26.60m
¤370
¤27.30m
Tenancy: Fully occupied by Alcampo at current market rents.
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
TRES CANTOS
82 | informe
SAN SEBASTIAN
DE LOS REYES
A-1
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
ONDA
Pº DE LA CAS
TELLANA
VALVERDE
S
A-2
TORREJON
CHAMARTÍN
CITY
CENTRE
CITY
MONCLOA
CENTRE
ARAVACA
POZUELO
DE ARDOZ
CIUDAD
LINEAL
M-30
SALAMANCA
MADRID
CENTRO
Rivas Vaciamadrid
ALCALÁ
DE HENARES
HORTALEZA
C/ Mariano Benlliure s/n, Rivas, Madrid
SAN BLAS
CANILLEJAS
COSLADA
Submercado Madrid, 1er anillo Submarket Madrid, 1st ring
RETIRO
MORATALAZ
ARGANZUELA
PUENTE
DE VALLECAS
M-40
RIVAS
VACIAMADRID
35.248 SBA (m2)
35,248 GLA (sqm)
RIVAS
VACIAMADRID
ALCORCÓN
M-50
LEGANÉS
A-3
VALENCIA
GETAFE
34 Muelles de Carga
34 Loading Docks
ARGANDA
DEL REY
FUENLABRADA
PARLA
SAN MARTÍN
DE LA VEGA
10 Km
report | 83
report | 85
LOGISTICS
Rivas Vaciamadrid
DESCRIPTION
KEY FACTS
This modern Class A logistics platform is one of the best
logistics facilities on the A-3 corridor. It benefits from modern
and flexible space, with a 10m free-height, a good number of
parking spaces and 34 loading docks. Comprising two different
buildings, which ensures that the space is extremely flexible, it
also boasts excellent complementary office space.
¤17.00m
¤17.32m
¤482
¤17.19m
Location: The logistics platform is located in Rivas Vacíamadrid,
a strategic location to the south-east of Madrid: alongside the
A-3 motorway to Valencia, just 17 km from the city centre and
next to a metro station.
Tenancy: Multi-tenant. Rack-rented.
Asset Market Value1
Development Cost* 3
Main tenants: Fnac España and Grupo OM.
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
86 | informe
SAN AGUSTÍN
DE GUADALIX
GUADALAJARA
TRES CANTOS
A-1
ONES
AZUQUECA
SAN SEBASTIAN
DE LOS REYES
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
R-2
VALVERDE
Pº DE LA CASTELL
HORTALEZA
CHAMARTÍN
CITY
CENTRE
TORREJON
DE ARDOZ
CIUDAD
LINEAL
MADRID
POZUELO
MONCLOA
ARAVACA
SALAMANCA
MADRID
CENTRO
A-2
ALCALÁ
DE HENARES
ANA
LAS ROZAS
MAJADAHONDA
SAN BLAS
CANILLEJAS
COSLADA
BARCELONA
Azuqueca
C/ Avda. Construcción 9,
Azuqueca de Henares, Guadalajara
M-50
RETIRO
MORATALAZ
ARGANZUELA
PUENTE
DE VALLECAS
RIVAS
VACIAMADRID
35.781 SBA (m2)
35,781 GLA (sqm)
ALCORCÓN
LEGANÉS
MÓSTOLES
ARGANDA
DEL REY
GETAFE
FUENLABRADA
A-3
PARLA
SAN MARTÍN
DE LA VEGA
28 Muelles de Carga
28 Loading Docks
100% Occupancy Rate
report | 87
report | 89
LOGISTICS
Azuqueca
DESCRIPTION
KEY FACTS
Prime logistics warehouse in excellent condition. It was built to
comply with the highest standards of fire protection, thanks to
its prefabricated structure.
Location: The asset is located on the Corredor del Henares, a
strategic location, which enjoys the best road and rail transport
links to Spain's main freight ports. It benefits from direct access
to the A-2 motorway (Madrid-Zaragoza-Barcelona) and is just
35 minutes drive from the centre of Madrid.
Tenancy: 100% let to Kuehne & Nagel. Rack-rented.
¤14.49m
¤14.85m
¤405
¤14.68m
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
90 | informe
SAN AGUSTÍN
DE GUADALIX
GUADALAJARA
TRES CANTOS
BARCELONA
A-1
CABANILLAS
ONES
SAN SEBASTIAN
DE LOS REYES
R-2
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
A-2
VALVERDE
ALCALÁ
DE HENARES
Pº DE LA CASTELL
ANA
LAS ROZAS
MAJADAHONDA
TORREJON
DE ARDOZ
MONCLOA
ARAVACA
SALAMANCA
MADRID
CENTRO
Submercado Madrid, 3er anillo Submarket Madrid, 3rd ring
CIUDAD
LINEAL
MADRID
POZUELO
C/ Rayo 5, Cabanillas del Campo, Guadalajara
HORTALEZA
CHAMARTÍN
CITY
CENTRE
Cabanillas
SAN BLAS
CANILLEJAS
COSLADA
M-50
RETIRO
MORATALAZ
ARGANZUELA
PUENTE
DE VALLECAS
37.879 SBA (m2)
37,879 GLA (sqm)
RIVAS
VACIAMADRID
ALCORCÓN
LEGANÉS
MÓSTOLES
ARGANDA
DEL REY
GETAFE
FUENLABRADA
A-3
PARLA
SAN MARTÍN
DE LA VEGA
34 Muelles de Carga
34 Loading Docks
100% Occupancy Rate
report | 91
report | 93
LOGISTICS
Cabanillas
DESCRIPTION
KEY FACTS
Modern and efficient logistics facilities, recently built to
the most exacting of standards in terms of materials and
functionality. The property benefits from practical and attractive
office space, surrounded by a landscaped area, and it also
features a large number of car and motorbike parking spaces.
Location: The asset is located in Cabanillas del Campo, that
forms part of the Corredor del Henares, which is the No. 1
logistics hub in Spain. The park is located next to the A-2
motorway and has direct access to the R-2 toll road, which links
Madrid-Zaragoza-Barcelona-France.
Tenancy: 100% occupied property with two tenants. Current
rent sligthly over market.
¤16.68m
¤17.21m
¤440
¤17.50m
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
Tenants: Red Logistics and Cronodis Logistica Integral.
RENTAL COMPARISON
(*) Source: CBRE.
LA ALGABA
94 | informe
SANTIPONCE
VALDEZORRAS
VALENCIA DE
LA CONCEPCIÓN
CAMAS
Dos Hermanas
TORRE PALMA
GINES
SEVILLA
CASTILLEJA
DE LA CUESTA
SEVILLA
SAN RAFAEL
A-92
BORMUJOS
C/ Torre de los Herberos, Dos Hermanas, Sevilla
SAN JUAN DE
AZNALFARACHE
MAIRENA
DEL ALJARAFE
SE-30
GELVES
PALOMARES
DEL RIO
MONTEQUINTO
N-4
FUENTE DEL REY
CORIA DEL RIO
ALCALÁ DE
GUADAIRA
A-4
42.466 SBA (m2)
42,466 GLA (sqm)
DOS
HERMANAS
DOS HERMANAS
Submercado Sur de Sevilla Submarket South of Seville
M-30
LA PUEBLA
DEL RIO
ALGECIRAS
54 Muelles de Carga
54 Loading Docks
100% Occupancy Rate
report | 95
report | 97
LOGISTICS
Dos Hermanas
DESCRIPTION
KEY FACTS
This large logistics platform has been modernised over
the years and complies with the required standards for a
high performance operator. 100% let to Carrefour, it is the
company's distribution centre for Andalusia, Canary Islands and
Extremadura.
Location: Strategically located in one of the best logistics areas
of Andalusia, in the Carretera de la Isla Industrial Estate, 12 km
from the city centre of Seville, with direct access to the A-4
motorway (Madrid-Seville-Cadiz) and the S-40 Seville ring road.
Close to the train station, inter-city bus stops and 18 km from
the airport.
¤9.42m
¤9.66m
¤222
¤12.10m
Asset Market Value1
Development Cost* 3
Tenancy: 100% let to Carrefour. Rack-rented.
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
98 | informe
SAN AGUSTÍN
DE GUADALIX
GUADALIX
BILBAO
Guadalix
TRES CANTOS
C/ La Lobera, San Agustín de Guadalix, Madrid
ONES
SAN SEBASTIAN
DE LOS REYES
A-1
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
14.945 SBA (m2)
14,945 GLA (sqm)
M-40
MAJADAHONDA
Pº DE LA CAST
ELLANA
VALVERDE
LAS ROZAS
HORTALEZA
CITY
CITY
CENTRE
CENTRE
CHAMARTÍN
POZUELO
MONCLOA
ARAVACA
TORREJON
DE ARDOZ
CIUDAD
LINEAL
SALAMANCA
MADRID
CENTRO
22 Muelles de Carga
22 Loading Docks
ALCALÁ
DE HENARES
SAN BLAS
CANILLEJAS
COSLADA
RETIRO
MORATALAZ
ARGANZUELA
PUENTE
DE VALLECAS
RIVAS
VACIAMADRID
ALCORCÓN
LEGANÉS
MÓSTOLES
ARGANDA
DEL REY
GETAFE
FUENLABRADA
PARLA
SAN MARTÍN
DE LA VEGA
10 Km
report | 99
report | 101
LOGISTICS
Guadalix
DESCRIPTION
KEY FACTS
Logistics warehouse acquired in October 2014 from LEGII
(Lasalle Investments), well located in a consolidated industrial
estate north of Madrid. The warehouse was developed in 2001
by Riofisa, it comprises two adjoining modules, with a 445 sqm
office annex, which equates to a total lettable area of 14,945
sqm and offers 22 loading bays.
¤4.50m
¤4.60m
¤301
¤5.70m
Location: The asset is located 30 km north of Madrid, in its
2nd logistics tier, with immediate access to the A1 motorway to
Burgos and France.
Tenancy: Fully let to Decopharma on a 5-year compulsory term
lease contract with rent at market levels.
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
102 | informe
ELS HOSTALETS
DE BALENYÀ
AGRAMUNT
CALAF
MANRESA
SAN FELIU
DE CODINES
LA GARRIGA
CERVERA
CAN BOSC
TÀRREGA
A-2
CALDES DE
MONTBUI
MONISTROL DE
MONTSERRAT
GRANOLLERS
A-2
IGUALADA
TERRASA
SABADELL
ESPARREGUERA
MOLLET
DEL VALLÈS
PREMIÀ DE DALT
CERDANYOLA
MONTCADA
I REIXAC
SAN CUGAT
DEL VALLÈS
MONTGAT
SANT ANDREU
DE LA BARCA
SANTA COLOMA
DE GRAMENET
BADALONA
LA GUARDIA
DELS PRATS
BARCELONA
SANT FELIU
DE LLOBREGAT
SANTA FE
DEL PENEDÈS
L´HOSPITALET
DE LLOBREGAT
VALLS
VILAFRENCA
DEL PENEDÈS
Valls
MATARÓ
SANT QUIRZE
DEL VALLÈS
RUBÍ
MARTORELL
SAN BOI DE
LLOBREGAT
C/ Moixiganga 5, Valls, Tarragona
EL PRAT DE
LLOBREGAT
VILADECANS
VILA-RODONA
GAVÀ
LLORENÇ DEL
PENEDÈS
ALCOVER
A-7
SANT PERE
DE RIBES
LES ROQUETES
EL VENDRELL
A-7
CASTELLDEFELS
Submercado Barcelona, 3er anillo Submarket Barcelona, 3rd ring
SITGES
VILANOVA
I LA GELTRÚ
LES BORGES
DEL CAMP
REUS
TARRAGONA
VILA-SECA
SALOU
CAMBRILS
26.026 SBA (m2)
26,026 GLA (sqm)
36 Muelles de Carga
36 Loading Docks
0% Tasa Ocupación
0% Occupancy Rate
report | 103
report | 105
LOGISTICS
Valls
DESCRIPTION
KEY FACTS
High quality logistics warehouse vacant at the time of
acquisition in October 2014 from LEGII (Lasalle Investements)
and located in the consolidated industrial estate of Valls
(Tarragona) with occupiers including IKEA and Kellogs. The
warehouse, developed in 2003 by Copperfield, is in a very good
state of repair, it comprises two adjoining units, with a 775 sqm
office annex totalling 26,026 sqm of lettable area.
The warehouse offers 36 loading bays.
Location: the asset is located 100 km away from Barcelona, in
its 3rd logistics tier, with easy access to the A2 motorway to
Madrid, and a 20 km drive to the high-speed train station linking
Barcelona and Madrid.
Tenancy: Fully let to Kellogg from 1st April 2015, on a 3+2+3
term lease contract with rent at market levels.
¤4.50m
¤4.62m
¤173
¤6.50m
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
106 | informe
SAN AGUSTÍN
DE GUADALIX
COLLADO
VILLALBA
GUADALAJARA
PLANETOCIO
TRES CANTOS
TORRELODONES
SAN SEBASTIAN
DE LOS REYES
A-6
Planetocio
C/ Avda. Juan Carlos I, Collado Villalba, Madrid
A-1
FUENCARRAL
EL PARDO
FRANCISCA
DELGADO
Submercado Madrid, Región Noroeste Submarket Madrid, Northwest Area
M-40
VALVERDE
ALCALÁ
DE HENARES
LLANA
LAS ROZAS
Pº DE LA CASTE
MAJADAHONDA
HORTALEZA
17.902 SBA (m2)
17,902 GLA (sqm)
CHAMARTÍN
CITY
CENTRE
CITY
CENTRE
POZUELO
MONCLOA
ARAVACA
TORREJON
DE ARDOZ
CIUDAD
LINEAL
SALAMANCA
MADRID
CENTRO
M-30
SAN BLAS
CANILLEJAS
858 Parking Spaces
COSLADA
RETIRO
MORATALAZ
ARGANZUELA
VILLAVICIOSA
DE ODÓN
PUENTE
DE VALLECAS
A-5
RIVAS
VACIAMADRID
ALCORCÓN
LEGANÉS
MÓSTOLES
ARGANDA
DEL REY
GETAFE
FUENLABRADA
PARLA
SAN MARTÍN
DE LA VEGA
10 Km
88% Tasa Ocupación
88% Occupancy Rate
report | 107
report | 109
Retail
Planetocio
DESCRIPTION
KEY FACTS
Neighbourhood leisure/retail centre acquired in September
2014, located in Collado Villalba-Madrid. Fully refurbished in
2009-2012, since then this centre has undergone a stabilisation
process, which is already producing positive signs in terms of
footfall and leasing activity. The shopping centre comprises
two above ground floors and features a mall of 17,830 sqm, plus
1,800 sqm of terraces occupied by several restaurants. Excellent
parking provision with 797 underground parking spaces and 61
exterior spaces.
Location: located on the main high street of Collado Villalba,
a 60,000 inhabitant town situated 35Km north of Madrid city
centre, with excellent access from the A-1 highway. There is also
a Mercadona (No. 1 supermarket chain in Spain) next door, as
well as a petrol station.
Tenancy: current occupancy rate stands at 85%. Main tenants
include: Media Markt, Yelmo cinema (9 screen cinema), Fitness
2U, outdoor foodcourt (VIPS, Gino’s, McDonalds, Tony Roma’s).
¤14.00m
¤14.27m
¤782
¤15.60m
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.
110 | informe
ELS HOSTALETS
DE BALENYÀ
AGRAMUNT
CALAF
MANRESA
SAN FELIU
DE CODINES
LA GARRIGA
CERVERA
CAN BOSC
TÀRREGA
A-2
CALDES DE
MONTBUI
MONISTROL DE
MONTSERRAT
GRANOLLERS
A-2
IGUALADA
TERRASA
SABADELL
ESPARREGUERA
MOLLET
DEL VALLÈS
PREMIÀ DE DALT
CERDANYOLA
MONTCADA
I REIXAC
SAN CUGAT
DEL VALLÈS
MONTGAT
SANT ANDREU
DE LA BARCA
SANTA COLOMA
DE GRAMENET
BADALONA
LA GUARDIA
DELS PRATS
BARCELONA
SANT FELIU
DE LLOBREGAT
SANTA FE
DEL PENEDÈS
L´HOSPITALET
DE LLOBREGAT
VILAFRENCA
DEL PENEDÈS
Les Gavarres
MATARÓ
SANT QUIRZE
DEL VALLÈS
RUBÍ
MARTORELL
SAN BOI DE
LLOBREGAT
Carrer W-Carretera de Reus, 2, Tarragona
EL PRAT DE
LLOBREGAT
VILADECANS
VILA-RODONA
GAVÀ
LLORENÇ DEL
PENEDÈS
LES
GAVARRES
ALCOVER
A-7
SANT PERE
DE RIBES
LES ROQUETES
EL VENDRELL
A-7
CASTELLDEFELS
Submercado Tarragona Submarket Tarragona
SITGES
VILANOVA
I LA GELTRÚ
LES BORGES
DEL CAMP
REUS
VILA-SECA
SALOU
CAMBRILS
TARRAGONA
12.413 SBA (m2)
12,413 GLA (sqm)
352 Parking Spaces
100% Occupancy Rate
report | 111
report | 113
Retail
Les Gavarres
DESCRIPTION
KEY FACTS
Retail warehouse unit purchased from Credit Suisse Asset
Management in December 2014 in Tarragona, Catalonia. The
unit is a single storey building with a retail GLA of 12,413 sqm
constructed on a site that also has 352 parking spaces.
Location: Located in the Les Gavarres retail park which is
extremely well located beside the A-7 motorway. The park
is highly consolidated including occupiers such as Carrefour,
Leroy Merlin, Decathlon and Media Markt.
Tenancy: The unit is fully let to the German DIY retailer
Bauhaus.
¤27.00m
¤27.73m
¤2,175
¤27.50m
Asset Market Value1
Development Cost* 3
(*) Source: CBRE.
RENTAL COMPARISON
(*) Source: CBRE.

section - Axiare Patrimonio

Transcription

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