A family office buys San Onofre 5 in Madrid for €14.5M

A family office buys San Onofre 5 in Madrid for €14.5M

A Spanish family office has acquired a residential building located at Calle San Onofre 5, in the centre of Madrid, for 14.45 million euros. This is the first transaction carried out by the family office in Madrid.

The property, with a built-up area and common areas of 3,640 square metres, consists of 26 flats and a commercial premises occupied by Consuela, dedicated to the sale of sports footwear and multi-brand fashion. In addition, the building has 38 parking spaces spread over 3 floors and 19 storage rooms.

The asset, refurbished in 2018 to a high standard, has all the flats furnished and is for accommodation use with a licence to operate as tourist flats. It is currently without an operator.

San Onofre is a small street connected to the pedestrian area of Fuencarral street and one of the main tourist hotspots in Madrid, a stone's throw away from Gran Vía, which concentrates the largest hotel, retail and restaurant offer in the capital.

In the transaction, Colliers has advised the buyer. "Colliers is committed to a service model based on in-depth knowledge of the portfolio and investment strategy of our clients, and thanks to their trust, we are able to offer tailored solutions and address this type of off-market operations, where confidentiality is absolutely key," said Mauricio Guerrero, director of Capital Markets at the consultancy firm.

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