Javisol sells an apartment building in Fuengirola to Ornir Inversiones

Javisol sells an apartment building in Fuengirola to Ornir Inversiones

The apartment building located at number 6 Calle Huesca in Fuengirola (Málaga), which the Town Hall has been trying to sell for months, has been sold by its previous owner, the company Javisol, to the firm Ornir Inversiones, according to El Español. So far the price paid has not been disclosed, although, in the framework of the various auction tenders, municipal technicians established an approximate value of more than 4.8 million euros.

The asset has a built surface area of 4,754 square metres, of which almost 4,400 square metres are for housing, another 315 square metres are for commercial use and 67 square metres are for sports use. It has a ground floor and nine above ground floors. The aim of this sale is that the building, which for years the Fuengirola Town Hall has been trying to dispose of in the search for a buyer who would be willing to assume the conservation obligations, will be refurbished and resume its activity.

In addition, this operation has generated the income in the municipal coffers of the debt that the previous owner had since 2012 with the Town Hall for taxes, amounting to approximately 500,000 euros. The building is located on a plot that the General Urban Development Plan has catalogued as equipment and a few years ago the owner closed the establishment to the public, leaving it unused and without any maintenance or conservation.

This situation of abandonment generated unhealthy problems and the local administration tried for years and without success to communicate with the representative of the property to ask him to adapt the asset. On up to four occasions an attempt was made to sell the building at public auction.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!