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General

Telefonica selling historic Barcelona HQ for EUR 110 mln - report

Friday 15 March 2019 | 13:28 CET | News

Telefonica is finalising the sale of its Barcelona headquarters, occupying an iconic building built in 1928 and located in the central Plaza Catalunya, according to unnamed sources cited by business daily Expansion. The operator will receive around EUR 110 million for the asset but will continue to occupy the building for the foreseeable future as part of a sale and leaseback transaction that’s expected to close in the first half of 2019, or at the beginning of H2, said the report.

The 8,530 square-meter building has 11 floors above ground and a basement. It has a ‘Movistar Center’ retail space open to the public on the three lowest floors, including a flagship area similar to that on Madrid’s Gran Via with interactive sections for consumers to test the latest developments in mobile telephony. Under the terms of the proposed deal, Telefonica will continue renting the lower floors for 2 years and the rest of the property for 5 years, with the possibility of an extension.

The building also houses the "Barcelona / Catalunya" ADSL exchange, which communications regulator CNMC recently authorised Telefonica to close by 2023 at the latest due to the rapid expansion of its FTTH network in the city.


 



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Categories: General
Companies: Movistar / Telefonica
Countries: Spain
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