Grupo Durán sells four assets in the centre of Madrid for €17M

Grupo Durán sells four assets in the centre of Madrid for €17M
Serrano 30 (Geox store), Madrid

The real estate company of the Durán Group has closed the sale of four properties located in Madrid, with a total of more than 500 square metres, for a value of approximately 17 million euros. This transaction has been advised by Cushman & Wakefield and is part of the Durán Group's strategy to reorganise its assets, focusing on those that are essential for the development of its activity.

As part of this strategy, the real estate division of the Durán Group has sold the four properties located in the Salamanca neighbourhood, the area of Madrid where the city's main shopping streets are located. These assets are specifically located in Claudio Coello, Villanueva, Goya and Serrano streets, and have been acquired by private investors.

In addition to the sale of these properties, the Group's strategy includes the acquisition of commercial premises in one of Valencia's main shopping streets, where they will maintain the Group's own activity.

Beatriz López Cid, Partner, CMG Retail at Cushman & Wakefield Spain highlights the successful marketing of the assets, particularly Serrano 30, with 265 sqm leased to GEOX, and notes: "We are seeing how the Super prime and prime areas of Madrid are more resilient in times of uncertainty, assets of these characteristics come up once in a lifetime and there is no doubt in investors' minds about the long-term value of these assets".

The Salamanca neighbourhood, located in the heart of the capital's most important tourist and cultural attractions, stands out for its exclusivity and selectivity in Madrid. With the Puerta de Alcalá as the nerve centre of tourism, leisure and hospitality, this neighbourhood is considered the most emblematic in the city. It offers a unique and singular offer, with a mix of luxury, premium and mass market retailers, including brands such as Emporio Armani, Rabat, Loewe, Prada and Versace, among others.

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