Real I.S. AG has acquired the retail and office property “Las Ramblas 124” on Las Ramblas Boulevard in Barcelona’s city centre on behalf of an individual mandate of a German insurance company. The vendor is KKH Property Investors, specialised in developments in prime locations in Spain. The around 4,000m² building which was erected in 1910 is located in Barcelona’s historical city centre. It is divided into equal parts of retail and office space and is fully let. The retail space is leased to FC Barcelona’s flagship store. The offices are home to SEAT Metropolis Lab Barcelona, a company specialised in software development for networks and mobility solutions in the SEAT Group.
“Barcelona’s office market has meanwhile become one of the most attractive in Europe. Rising demand in recent years has led to significant excess demand. The fundamental drivers of Barcelona’s office market will remain intact also after the Corona epidemic,”