Business · Companies · 7 hrs ago
Cevasa sells Bon Pastor industrial building for €6.3 million
Cevasa sold an industrial building in Bon Pastor, a district of Barcelona, for €6.3 million.
The sale also includes 49% of the land, while Cevasa keeps the remaining 51% and building rights for the site.
The buyer has not been identified, and the transaction is expected to add about €2 million to Cevasa’s annual results.
In the first nine months of the year, Cevasa’s profit rose 44% to €18 million, partly because the value of its property assets and related loans increased.
Its revenue fell 26% to €21 million as sales of property inventory dropped sharply, although rental income rose 7% to almost €19 million.
The sale lets Cevasa cash in while retaining a stake in future development on the land.
Cevasa has sold an industrial building in Barcelona’s Bon Pastor neighbourhood for €6.3 million.
The deal also includes 49% of the land beneath the building and is expected to add about €2 million to the company’s annual results.
Cevasa will retain the other 51% of the land and the urban development rights to build on it.
The buyer has not been disclosed.
- Who
- Cevasa sold the building. The buyer has not been disclosed.
- What
- An industrial building and 49% of its land were sold for €6.3 million.
- When
- Not stated
- Where
- Bon Pastor, a neighbourhood in Barcelona, Spain.
- Why
- Not stated
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- Sale price
- €6.3 million
- Land included in sale
- 49%
- Land retained by Cevasa
- 51%
- Expected annual-result gain
- About €2 million
- Buyer
- Not disclosed