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News » Spain
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Grosvenor Europe acquires first residential development site in Madrid

Grosvenor Europe, of the Grosvenor Group, has acquired its first residential development site in Madrid, with joint venture partner Amcorp Properties Berhad. The 820 sqm site is located on the exclusive Calle de Jorge Juan, in the prime Barrio de Salamanca in Madrid. The acquisition is the first of the €70m joint venture established between Grosvenor and Amprop in July 2016. The partnership is targeting value add opportunities in prime central areas of Madrid, where it can use its skilled local team to drive returns above market levels. The transaction was advised by GAPO, KPMG and Ingeniería Valladares.Grosvenor is working with architecture firm Ortiz.Leon to develop six exclusive apartments and a penthouse, which will overlook the Reti...[…]