CAR PARK WITH 515 SPACES

Description

515-space car park for sale in the Cuzco-Azca area, one of the most premium districts of Madrid. The car park is spread over four basement levels, has two lifts and offers vehicle and pedestrian entrances and exits from different streets. All levels are equipped with gas extraction and fire protection systems. A project has already been submitted to Madrid City Council to open a new pedestrian access with a direct lift from the square located above the car park to the various levels. The asset is pending renewal of its activity licence, which will include this new access; the renewal is a condition of the sale and is estimated to take around six months once the planned adaptation works are completed. It currently operates on a rotation basis, with a small percentage of spaces let on a long-term basis. It is sold free or with an operator: a top-tier operator has submitted a written offer for a 30-year contract, with an upfront payment of €2,650,000 and an annual rent of €450,000 with periodic increases.

City

Madrid

Built Area

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Energy rating

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