Broseta advise on the acquisition of a building in Madrid’s Letras district

Broseta has advised Be Grand and Admara on the acquisition of a building in the Las Letras district of Madrid.

The office building has been acquired for around 18 million euros to carry out the refurbishment and create 50 luxury homes with sales prices above 8,000 euros per square meter.

The total investment amounts to some 26 million euros and there is the possibility of using the building for rental housing. Marketing is scheduled for January 2025, while construction work will begin in April of the same year.

Led by partner Gonzalo Navarro Martínez-Avial, the lawyers Lola Roldán and Jorge González, from the commercial law department, and Ramón Varanda, from the tax law department, have participated in the transaction.

Julia Gil