Family office purchased Pronovias’ store in la Rambla de Barcelona

Family office purchased Pronovias’ store in la Rambla de Barcelona

A family office acquired the store occupied by world famous wedding brand Pronovias in Rambla Catalunya 129, in the Catalan capital. The operation consolidates the investor’s presence in Spain and more particularly in Barcelona, as explained by Cushman & Wakefield. The investor’s name was not disclosed.

The consultant advised the operation and law firm Font & Yildiz provided legal advice to the buyer.

«This operation proves the investment market is active, and that investors remain interested in retail assets, in particular those with consolidated tenants, secure contracts and prime locations», commented Mónica Manguillot, partner at Cushman & Wakefield Capital Markets in Spain.

«The rent levels in Barcelona’s main high streets remained the same during the first quarter of 2021 as they were at the end of 2020. We cannot, however say there has been a general stabilisation in terms of rents in these areas, since it is expected that the dynamic will not be the same everywhere in terms of price adjustments in the coming months», added Manguillot.

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