Business · Companies · 2 hrs ago
Colonial negotiates sale of Iberia’s Madrid headquarters for about €100 million
Colonial is negotiating to sell MV49 Business Park in Madrid for about €100 million.
The office complex has two buildings, and its 13-storey tower has housed Iberia’s headquarters since 2013.
Colonial has owned the property for about two decades, and several tenants rent space there.
Iberia plans to move its main offices to Ciudad Iberia, a planned complex near Madrid’s airport that will also bring together maintenance, training and technology facilities.
The proposed sale would help Colonial sell more assets under a plan launched in November.
Colonial later increased that plan by €200 million, and it expects to complete the sales by 2027.
The deal is still under negotiation, and Colonial has declined to comment.
Colonial is in advanced, exclusive negotiations to sell Madrid’s MV49 Business Park for about €100 million.
The complex at 49 Martínez Villergas Street has two buildings with a total area of 24,135 square metres.
One building, where Iberia has its headquarters, has 13 floors and 15,935 square metres.
Iberia has been based there since 2013 and plans to move its main offices to Ciudad Iberia, near Madrid airport.
The sale would support Colonial’s asset divestment strategy, which the company has expanded by €200 million.
- Who
- Colonial is negotiating the sale. Iberia is the tenant in one of the buildings.
- What
- Colonial is negotiating to sell MV49 Business Park for about €100 million.
- When
- The negotiations were reported on 22 October 2026.
- Where
- MV49 Business Park is at 49 Martínez Villergas Street in Madrid, near the M-30 and Avenida América.
- Why
- The sale would advance Colonial’s strategy of selling assets and reallocating capital.
This story does not have two clearly opposing sides.
Colonial bought the property, formerly the Philips building, from TMW Pramerica for €103 million.
Colonial renovated the property.
Iberia moved its headquarters to the 13-floor building.
Colonial was reported to be in exclusive, advanced negotiations to sell the complex.
- Proposed sale price
- About €100 million
- Complex
- Two buildings; 24,135 square metres in total
- Iberia building
- 13 floors; 15,935 square metres
- Colonial purchase
- €103 million in 2006
- Asset divestment plan
- €500 million initially, expanded by €200 million
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