The socimi Safra, under the control of the Swiss private bank Safra Sarasin, has acquired the property located in the Madrid neighborhood of Tres Cantos, occupied by Movistar+, for a price of 79 million euros. The building, located at number 6, Avenida de los Artesanos, has a surface area of approximately 42,000 m2.
JSS has told BME Growth that it expects “the investment to be covered by a combination of equity and external financing that is yet to be determined.” The property, occupied by the Telefónica subsidiary, is leased under a long-term lease and currently houses offices and television studios. CBRE advised the seller, an American fund.
The building has three large differentiated sectors. The first is dedicated to technical services, and also houses a series of warehouses. The second section is occupied by the production rooms, and is the place where all television programs are produced. The third floor also houses an office building, which directly overlooks Avenida de los Artesanos.
Movistar+, which was the country’s first pay television company, located the first production center in Spain in the basement of an office building in Madrid’s Torre Picasso. Later, forced by the broadcasting regulations of the early nineties, which prevented broadcasting from being carried out from national territory, the company was forced to move to Astra’s headquarters in Luxembourg, and finally moved to its final location in Tres Cantos in 2003.
