Grosvenor Europe snaps up third residential development in desirable Chamberí district of Madrid

Grosvenor Europe (Grosvenor), one of the four operating companies of the privately-owned international property group, Grosvenor Group Limited, has acquired its third site for residential development in the sought-after Chamberí district of Madrid, consolidating its position in the market. 

30th January 2018

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Grosvenor will develop 15 exclusive apartments and two penthouses on Calle de García de Paredes, in consultation with the prestigious architectural firm Cano and Escario. Located on a 333 sqm site, the seven storey scheme will also offer two additional underground parking levels, and a lobby, gym and cycle parking on the street level. The design will preserve the original façade of the first three floors of the building, which dates to the beginning of the 20th Century.

García de Paredes is a quiet street in the Chamberí neighbourhood, one of the most desirable in Madrid. It benefits from being a few minutes’ walk to the popular Parque de Canal de Isabel II and Teatros Canal, as well as close to various transport links, including the Metro.  

The deal falls within Grosvenor’s joint venture with Amcorp Properties Berhad (Amprop), which recently announced the expansion of its partnership agreement, increasing its development capacity to over €200m.

García de Paredes is the third residential site the partnership has acquired in the Chamberí district of Madrid, following the acquisition in 2017 of two residential buildings on the corner of Calle de Santa Engracia and Calle de General Arrando, and on Calle de Modesto Lafuente, close to Calle de Jose Abascal. The joint venture’s first acquisition was a site on Calle de Jorge Juan in the fashionable Salamanca neighbourhood, which is being developed into seven exclusive apartments and a rare private garden.

ENDS

For more information contact:
Rebecca Dwyer, Press Office
Grosvenor
020 7312 6101
rebecca.dwyer@grosvenor.com

Notes to Editors

Grosvenor Europe

Grosvenor Europe invests, develops, operates and manages real estate assets and funds, with a focus on six European cities: Paris, Lyon, Stockholm, Madrid, Milan and Liverpool.  

Building on our recognised skills and the wider Grosvenor Group’s 340 years of experience in real estate, we adopt a long-term, value-add approach to investment, development and management.

We work closely with like-minded partners and aim to create value for our partners, shareholders and the local communities in which we work by creating compelling investment strategies that are expertly implemented by our local teams.

Previously known as Grosvenor Fund Management, as at 31 December 2016 we managed £2.9bn / €3.4bn of assets, including a portfolio of historical buildings in the heart of Lyon’s city centre in France, Liverpool ONE in the UK and Skärholmen Centrum shopping centre in Stockholm.  We also have three residential developments underway in Madrid; two in Chamberí and one on Calle de Jorge Juan in the esteemed Salamanca neighbourhood.

For more information visit the website www.grosvenor.com   @GrosvenorEurope

 

Amcorp Properties Berhad

AMPROP has been listed on the Main Market of Bursa Malaysia Securities Berhad since 1972. AMPROP Group’s core businesses include property development, renewable energy and contracting.

In recent years, AMPROP has been growing its overseas property portfolio. The Group made its debut into London in 2009 with the acquisition of 40/50 Eastbourne Terrace in central London. Following this, the Group continues to embark on property projects in prime central London including 101 Lexham Gardens, 99 Baker Street, Pavilion D of NEO Bankside, Burlington Gate in Mayfair, 4B Merchant Square in Paddington, Holland Park Villas in Campden Hill, Bankside Yards in Southwark and Kilmuir House in Belgravia.

AMPROP also entered the Japanese real estate in 2015 via a joint venture with Grosvenor Asia Pacific through its maiden project, Westminster Nanpeidai. This was followed by Court Annex Roppongi and Concieria Tower’s West Shinjuku, which are located in prime areas of Tokyo.

In 2016, AMPROP expanded its real estate partnerships with Grosvenor Group by forming a joint venture with Grosvenor Europe to invest in Madrid, Spain and another joint venture with Grosvenor Asia Pacific Limited to invest in Hong Kong.

For more information on AMPROP, visit www.amcorpproperties.com

 

Cano and Escario

Cano y Escario is a prestigious and award-winning Spanish architecture firm founded in 1988, whose work covers a wide range of projects, from residential to offices, through educational centers printing its seal of balanced and responsible architecture. For more information about Cano and Escario visit www.canoyescario.es

 

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