UK institution Standard Life has clinched a prelet at its 583 Gran Via project in Barcelona and three other lettings at Torre Tarragona in the city, on the back of rising tenant demand.
Spanish bank Banesto is taking a 15-year lease on office and retail space totalling 2,530m2 – 60% of the Gran Via building. The office rent was €252 per m2 a year and the retail rent €432 per m2.
The landlord claims the rent is one of the highest achieved in Barcelona since last summer.
Martin McGuire, European investment director at Standard Life, said: “We have secured a prelet to blue-chip tenants, taking well over half of the available space at Gran Via. We are also seeing encouraging levels of interest in the remaining three floors.”
Elsewhere in the city at 161 Calle Tarragona, Eugene Perma has taken 545m2, Feria de Valencia 218m2 and Urbicsa 306m2. The tenants are paying rents of between €18.50 per m2 and €21.5 per m2 a month, depending on the floor and amount of space.
Local agents put last year’s top rent in the city at €22.53 per m2. FPDSavills director Ian Cassidy said: “There is a resurgence in demand from tenants and rents have stopped falling after two years.”
Jorda & Guash advised Urbicsa, CB Richard Ellis (CBRE) and Aguirre Newman acted for Eugene Parma, while CBRE also acted for Feria de Valencia. CBRE and Jorda & Guasch are letting agents for Gran Via, while DTZ introduced Banesto to the landlord.
