Meridia has acquired two office buildings in Sant Just Desvern, Barcelona, as part of a value-add strategy focused on the refurbishment and repositioning of underutilised assets in urban areas with high potential.
The project, located at Carrer de la Constitució 1 and 3, has a gross floor area of over 18,000 sqm and benefits from an established location, with good connections to the centre of Barcelona and direct access to key transport infrastructure.
The buildings feature an efficient layout and significant potential for repositioning. However, the company notes that, due to limited investment in recent years, they have fallen short of current office market standards and no longer fully meet the requirements and expectations of current occupants. As a result, the assets are currently operating below their optimal capacity.
Meridia’s business plan envisages a comprehensive refurbishment of the assets to transform them into a complex geared towards medium-term stays, with a flexible operating model designed to adapt to new demand patterns and new forms of urban living, whilst generating a positive impact on the surrounding area. The buildings will incorporate a wide range of shared spaces and services tailored to today’s users, combining flexibility, service provision and quality of experience.
The project will involve a comprehensive ‘brown-to-green’ transformation to improving the energy efficiency of the properties, reducing their carbon footprint and bringing them into line with the highest ESG and sustainability standards.
The proximity of the properties to major developments in the healthcare and innovation sectors places the project within a rapidly evolving environment, where increased activity is generating new demand for services. In this context, the buildings will be designed to act as a key piece of service infrastructure, serving professionals, visitors and users linked to this expanding ecosystem.
Víctor Iborra, a partner at Meridia, said that “this acquisition is fully aligned with Meridia’s strategy of identifying investments with strong transformation potential and creating value through active asset management and repositioning. Established healthcare and innovation hubs tend to act as strong anchors for urban transformation, driving sustained demand for services and reshaping their surrounding areas. In this context, our focus is on repositioning existing assets to better serve this evolving ecosystem, delivering a high-quality and sustainable product aligned with current market needs.”
