The Executive Committee of the Consortium has approved the conditions for the sale of these spaces, which have a total area of 11,612.66 m2 and a gross profitability of 7.90%
They are premises and offices in Preference and Fondo Norte divided into two lots and you can bid for all or one of them.
Cadiz, May 23, 2023
The Executive Committee of the Free Trade Zone of Cádiz has approved in its last session, held this morning, the conditions of the Public Offer for the sale of seven commercial premises and six offices in the Nuevo Mirandilla Stadium Building, properties that are offered at profitability and which have a total area of 11,612.66 m2.
These spaces are divided into two lots. The Preference Lot has an area of 4,404.81 m2 and is made up of 5 premises in 5 registered properties, while the North Fund Lot has a total area of 7,207.85 m2 in a single registered property although divided into 6 offices and a local. Interested parties can bid for the entire property or for one of the two lots, with priority given to bidders who opt for the total number of properties.
The minimum sale price of the complete set of properties is 15,516,000 euros, with Lot One (Preference) being 7,135,000 euros and Lot Two (North Fund) being 8,381,000 euros. All the assets offered are subject to current lease contracts, whose rents amount to 1,225,000 euros per year and are occupied by public administrations, which guarantees a gross profitability of 7.90%.
The spaces in Public Offer are currently leased to public organizations. Specifically, four premises in Preference and three offices in Fondo Norte are occupied by the Department of Justice of the Junta de Andalucía; Another premises in Preferencia is rented by the Andalusian Employment Service and another, also in Preferencia, houses Eléctrica de Cádiz. In Fondo Norte, the SEPE (Public Employment Service) occupies a premises and an office, while the ISE (Andalusian Public Entity for Infrastructure and Educational Services) has two offices leased.
The spaces in this Public Offer have an unbeatable location, in a consolidated area and very close to the tax precinct of the Free Zone. The Stadium building also has public parking, another added value for potential interested parties.
To this we must add its proximity to the outer industrial estate of the Free Zone, which is already beginning to take off with the Base Zone work, where the building of recycled maritime containers that will house the Blue Economy incubator is being built.
The delegate of the Cádiz Free Trade Zone, Fran González, has highlighted “the interest of this public offer aimed at investors because it is a very attractive product with significant profitability. The fact of advancing in the restructuring of the Consortium, managing to straighten the accounts with the restructuring of the debt and the increase in contracts, is allowing us to focus the activity on our assets, making them attractive and promoting commercial activity aimed both at attracting companies as well as investors.”
The Public Offering of these assets confirms the positive progress of the management strategy of the Cádiz Free Zone, which has complied with the self-imposed Viability Plan for the years 2020 and 2025 and of which 87% of the objectives have been met. objectives marked therein. One of the aspects that has had the most impact is improving the economic and financial situation of the Consortium, with the restructuring of the debt and the commercial work that has been carried out, which has allowed it to have a positive working capital for the first time in 15 years. .
It must be remembered that the Cádiz Consortium has produced commercial figures that are close to full occupancy in leases both in the fiscal area and in the business centers and buildings that the Free Trade Zone has in the province of Cádiz. In terms of sales, there have been important operations in recent months that bring relevant companies to the Consortium's facilities, such as Ubago in the plots of the El Olivar Industrial Estate, the security company Cofer in the city of Cádiz or the high-tech firm Tecnobit-Grupo Oesía in the interior, to name a few.
