The 22 @ district of Barcelona is a success as a pole of attraction for companies. And every day more. Last year was especially good for this neighborhood, an old industrial area, converted into the area of office growth. In 2017, it marked a record in investment in land and beat brands in the contracting of offices and new projects.
The volume of investment in land in 2017 tripled that of the previous year, reaching 161 million in purchases of land, according to a report released yesterday by the real estate consultancy Cushman & Wakefield. These acquisitions include those of La Llave de Oro, Emesa and the Shaftesbury, Meridia Capital and Värde Partners funds. This last signature, as announced by CincoDías, sealed the purchase agreement one day after the convulsive Catalan referendum of 1-O, paying 50 million for 52,000 square meters. On the other hand, the volume of investment in that area, including the purchase of buildings and land, reached 526 million.
“If something stood out in 2017 in 22 @, compared to the immediately previous years and to the rest of the city areas, it is the number of land operations for new promotion,” the report highlights.
The 22 @, which sits on 198 hectares, is the new office pole in Barcelona, where Amazon has recently been installed and where Colonial, for example, is building one of its new buildings. Around 500 companies are installed every year in that area in rehabilitation
The 22 @ neighborhood occupies an area from the Plaza de las Glorias Catalanas to the coast -in the Forum area- crossed by the Diagonal, extending on both sides of that avenue. In the nineteenth century and much of the twentieth century was the industrial area of the city, known as Poble Nou, mainly textile factories. From the year 2000 it became the 22 @, where the old factories have given way to office buildings, hotels and homes.
At the inner end of 22 @ is the Torre Glòries (formerly Torre Agbar) and the shopping center called Glòries, which the French multinational Unibail-Rodamco rehabilitated to make it one of the commercial and restoration poles of the city. At the other end of the Diagonal, in the littoral zone, Deutsche Bank broke a record in 2016 by paying almost 500 million for the Diagonal Mar shopping center.
In this district are companies such as Microsoft, Telefonica, Indra, Orange, GSK, Isdin, Sanofi, Mediapro, the Efe agency or RBA. In addition, there will be installed a control center for harmful content of Facebook in Torre Glories, a building owned by Merlin Properties, as Cinco Días advanced in May. Amazon will also open its headquarters in southern Europe for SMEs, in a project of the real estate funds Stoneweg and 1810 Capital Investments.
Just last year there was a record of the last ten years, according to data from Cushman & Wakefield, in the demand for office space in the 22 @, with 101,000 square meters contracted in 86 operations, 33% more than the two Previous years In fact, 30% of the total area contracted in Barcelona is in this neighborhood. “The interest of large demands has increased over last year,” the study notes. The largest installation operations were those of Amazon, King Shared Servicers, HP and We Work, company of coworking spaces.
Precisely, these shared work spaces already represent 3.5% of the stock of offices and so far this year seven operations of this type have been closed.
This interest of the companies for the 22 @ has also translated into an improvement in the rents they pay, with a sustained increase since 2016, reaching 21 euros per square meter per month at most in 2018, although the prices range from 11 euros.
Availability. The area available in 22 @ at the end of the first quarter of 2018 was only 60,000 m2, according to Cushman & Wakefield, which means an availability rate of 7%.
Projects. The district has 129,000 m2 under construction, scheduled for delivery in 2018 and 2019. 43% of these spaces already have a tenant.
Promoters 77% of the new construction offer belongs to national groups, among which Inmobiliaria Colonial stands out, and the rest to international. “The new construction in the area has been reactivated in recent months due to the tone of demand and, to a large extent, the growth of income,” according to the consultancy.
Maximum. The potential ceiling of offices in this neighborhood is over 800,000 m2.
Source: El País