Stoneweg and Nova Providence Capital will develop an 18,500 sqm office complex in Barcelona’s 22@district, which will be situated at 203 Bolivia Street and have a gross asset value in excess of €50 million.
The transaction marks Stoneweg’s first investment in the office sector in Spain since the incorporation of Cromwell Property Group Europe into the group.
The building will be Triple A-grade and will comprise seven above-ground floors and two levels of car parking. The site is zoned for commercial use, has approved planning permission and a building application has been submitted. The plan for the asset involves developing the property, securing corporate tenants on long-term leases and pursuing a subsequent divestment once the building has stabilised.
The project comes at a time of sustained demand for office space in the 22@ district. In 2025, the district recorded a take-up of 137,000 sqm, equivalent to 43% of Barcelona’s total, according to the report Transparency: Barcelona 22@ District 2025, compiled by Cushman & Wakefield and presented by 22@Network Barcelona.
Activity remained strong at the start of 2026. Between January and March, the Barcelona office market recorded take-up of 72,312 sqm, up 34.1% year-on-year, with 22@ accounting for 55% of the total, according to BNP Paribas Real Estate. The consultancy ranks the district as the area with the highest take-up capacity in the city and forecasts that take-up will close the year at around 315,000 sqm.
