Avatars of the crisis on emblematic buildings of Barcelona

4 June, 2010 No Comments

Walking in frotn of the old building BANESTO in Plaça Catalunya of Barcelona, 10-11, corner of Passeig de Gracia, you wonder what fate awaits it and who will be the next owner …

Maybe back in the hands of banks or funds that were in Spain and it seems to slowly come back, or perhaps some FO … Of course, the building’s location is unbeatable.

It is another building in Barcelona that seems to always been there, and it becomes uncommon to see the state of neglect in which it is now, pending a settlement of the bankruptcy that is immersed in the present owners, Monteverde Group Ballester and real estate from Valencia.

Still have hung posters where it began to advertise the future promotion. Projected starting any building project in the short term this is not feasible, therefore, what happens is most likely decline over time which gives a bad image to the thousands of tourists who visit Barcelona in general daily.

This unique building was acquired in 2006, worth approximately € 100 million for the Monteverde Real Estate. This Valencian real estate gruop, together with the group Ballester, formed the partnership society Andybal for the rehabilitation of buildings in privileged enclaves, with the acquisition of buildings in Madrid and Barcelona, for the promotion of exclusive homes. In this case it was a construction project of 52 exclusive apartments with parking, but the resulting paralysis of the real estate market led the project, like many others, would slow down at first, then stopped altogether.

Currently the building is already in the market for a potential buyer.

Another building also for sale is a former hospital dated from s.XV, in Barcelona city center, which is at an advanced stage of rehabilitation, respecting the old structure which has a central cloister surrounded by arches. The project was to make a small hotel, even luxurious, but the owner’s heirs decided to sell it.

However, due to the evolution of the current economic situation, the few aid given by banks on credit or mortgage, plus the uncertainty in the price of current market value of the property, make purchase transactions be difficult to be reached.