Abengoa sells its headquarters in Seville for €70M to the Junta de Andalucía

Abengoa sells its headquarters in Seville for €70M to the Junta de Andalucía

The energy company has closed the sale of the Palmas Altas campus to the Junta de Andalucía for 70.6 million euros. The complex, which has seven buildings and two adjoining lots, will bring together all the judicial headquarters of Seville in the coming years.

The Governing Council of the Junta de Andalucía already approved the purchase of the complex on December 21 and yesterday the necessary documents were signed to carry out the operation. Palmas Altas is located in the southern part of Seville, on the Bellavista road to Dos Hermanas (Seville), and next to a shopping center and housing expansion area.

Currently, the sum of the office space of the seven buildings exceeds 47,000 sqm. Upon completion of the renovation work on the current buildings and the construction of two more buildings on the adjacent land, the complex is expected to exceed 217,000 sqm.

Abengoa will be able to continue as a tenant of two buildings for the next three years for 2.9 million euros

Palmas Altas, which houses the headquarters of the Spanish multinational specialized in the infrastructure, energy and water sectors, was inaugurated in 2009 after an investment of 132 million euros.

The company will continue as the tenant of two of the complex's buildings for at least the next thirty months, extendable to six more months through an extension, for a price close to 2.9 million euros.

Abengoa entered bankruptcy last February, not being granted a bailout of twenty million euros that it expected to receive from the Junta de Andalucía through loans from ICO and Cesce.

The company already put the property up for sale in November 2020 in search of liquidity. Among those interested in the purchase was the Valencian company Medcap Real Estate, directed by Dimas Andrés, but the operation was not completed.

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