The number 1 Marqués de Larios was sold for €16M

The number 1 Marqués de Larios was sold for €16M

The 1.200 sqm building has five floors and will be refurbished so as to be placed on the market once again, in an operation advised by consultant BSC estimated at 16 million euro, a number which includes both the building’s acquisition and its deep refurbishment.

This is one of Malaga’s most coveted buildings, located at the end of Plaza de la Constitución, at number 1 Marqués de Larios. With a 20-metre facade, the building can host retail and accommodation on the three higher floors. Nevertheless, it is also licensed to be leased to a single tenant, being thus apt to host a corporate headquarters. BSC presented the refurbishment project and is waiting for the license to start the intervention.

Despite the impact of the pandemic, the Marqués de Larios street has good occupancy rates, with only three locations available. The street is not only Malaga’s main retail street, but also one of the most expensive in Spain, surpassed only by Madrid and Barcelona’s high streets. The price by sqm is around 240€/month, although there have been rental operations closed for 300€/month.

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