Italian and German investment funds buy two Catalan Government buildings

Barcelona (ACN).- The Catalan Government put 4 buildings up for auction this Friday morning, following a plan to rationalise the spaces it uses, reduce spending and increase revenue in order to reduce public deficit. Two buildings have been bought, while the two remaining auctions were declared void. The headquarters of the Catalan Finance Ministry, located in a 8,000 square metre Art-Nouveau building in Barcelona’s Rambla Catalunya, was bought by the Italian pharmaceutical company through FINAF 92 for €23,207,000. The other building, with a surface of 7,200 square metres, was used by the Catalan Police. It is located in front of Barcelona’s Ciutadella Park, in the Passeig Pujades, and has been bought by the German hotel company MO Düsseldorf Immermannstrasse GmbH & CO. KG for €14,061,700. On Thursday, the Catalan Government announced a plan to reduce its office space by 45% in the coming year by concentrating services. The plan includes selling the most attractive buildings. In 2012 and 2013, the Catalan Government has already sold 20 building, for a total amount of €315.2 million, saving €17 million per year.

By selling these two building, the Catalan Government will save 2.51 million per year: indeed, they will no longer pay for land registration, taxes and maintenance costs. The other two buildings will be sold later on through another procedure.

The Rambla Catalunya Art-Nouveau building has 10 floors above ground level and 2 underground floors, distributed over 8,080 square metres. It is located in one of Barcelona’s most prestigious areas, near Plaça Catalunya and the Passeig de Gràcia. The Passeig Pujades building has 4 floors above ground level and one underground floor, distributed over 7,200 square metres. It gives on to the Ciutadella Park. Both building can be used for housing, office space, retail or as hotels.

The Catalan Finance Ministry will continue to occupy the Rambla Catalunya building for a while, with a temporary renting contract of a minimum length of 1 year and a maximum of 3. The monthly rent is set at €95,700.